Exports up 65% during first 20 days of May on chips

Korea's exports rose 65 percent from a year earlier in the first 20 days of May, data showed Thursday, with semiconductor shipments more than tripling over the period. Outbound shipments reached $52.7 billion in the May 1-20 period, compared with $31.9 billion tallied in the same period last year, according to data released by the Korea Customs Service. The figure was the largest ever recorded for the first 20 days of May. Imports went up 29.3 percent on-year to $41.6 billion over the cited period, resulting in a trade surplus of $11 billion. By sector, exports of semiconductors surged 202 percent from a year earlier to $21.9 billion, while those of petroleum products rose 46.3 percent to $3.23 billion. The customs data showed chips accounted for 41.7 percent of total exports, up 19 percentage points from a year earlier. Outbound shipments of automobiles, on the other hand, fell 10.1 percent to $2.76 billion. By destination, exports to China climbed 96.5 percent, followed by the United States with 79.3 percent and Vietnam with 70.2 percent. Shipments to the European Union increased 21.7 per

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