Photo : YONHAP News
The government assessed that the nation’s exports remain in positive territory, with automobile shipments setting a fresh record.
Presiding over a meeting to check up on key export items on Tuesday, Park Sung-taek, first vice minister for trade, industry and energy, said although the on-year increase may slow down in the fourth quarter, the rising trend is likely to continue.
The ministry said the on-year export gains have continued since last October and that cumulative shipments between January and September this year jumped nine-point-six percent on-year to 508-point-seven billion U.S. dollars. The trade balance has been in the black for 16 consecutive months since last June.
Shipments of semiconductors centered around high bandwidth memory(HBM) have driven the gains, posting a cumulative value of 102-point-four billion dollars during the first nine months of the year.
Exports of automobiles have accumulated to a fresh record of 52-point-nine billion dollars as of late September.
The government anticipates annual shipments to break the current record of 683-point-six billion dollars in 2022.