Exports that seek vitality also for the propaganda of semiconductors, IT and bio

Total exports and average daily exports, shared growth over 2 years

The forecast for December is also positive … It seems difficult to reach an annual trade amount of 1 trillion

(Seoul = Yonhap News) Reporter Boram Yoon = Last month, Korea’s exports increased again in a month and regained vitality.

This is because exports in the information technology (IT) and bio sectors have increased significantly, in addition to strong exports of existing flagship items such as semiconductors and automobiles.

The government plans to maintain the vitality of exports by actively responding to uncertainties such as the launch of the new US government and the re-proliferation of the novel coronavirus infection (Corona 19).

◇ Exports rebounded in November … IT, automobile, etc.

According to the Ministry of Commerce, Industry and Energy on the 1st, exports in November increased by 4.0% compared to the same period last year and recovered in a month.

Monthly exports continued to decline for six consecutive months from March to August in the aftermath of Corona 19, then rose by 7.3% in September and then turned into a 3.8% decline in October.

The improvement in exports in November was largely driven by the recovery of key voices and major markets.

Among the top 15 items, semiconductors (16.4%), displays (21.4%), wireless communication devices (20.2%), secondary batteries (19.9%), home appliances (20.3%), computers (5.6%) and biohealth (78.5%) Exports of automobiles (2.1%), car components (6.5%) and ships (32.6%) of 10 items increased.

The number of items with positive exports is the highest since 2019.

In particular, exports of IT items have been notable due to the effect of the spread of the economy not face to face. Six out of 10 articles with positive exports are IT-related articles.

Semiconductors were up for 5 consecutive months and posted a double-digit growth rate for the third month, while displays and wireless communication devices made up for the recent slowness and both exports and the rise / fall hit record highs. ‘year.

Automobiles grew for three consecutive months in one year and reached the second highest performance this year in terms of exports.

In contrast, however, petroleum products (-50.6%), general machinery (-7.0%), steel (-4.6%), petrochemicals (-8.3%) and textiles (-6.3%).

By region, the total exports and average daily exports of the four main markets, including China, the United States, the European Union and ASEAN, were simultaneously positive in three years.

The growth rate of total exports is 1.0% in China, 6.8% in the US, 24.6% in the EU and 6.4% in ASEAN. These four markets account for 66% of Korea’s total exports.

◇ Total exports and average daily exports increase together … The export unit price has also increased

The government positively assessed the maintenance of the export engine in terms of various indicators.

First, in November, even though the number of working days was less than 0.5 days, total exports increased. Despite the shortage of working days, it is only 32 months since March 2018 that total exports have registered a positive.

Average daily exports also increased by 6.3%, marking an increase for the second consecutive month. It is the first time since November 2018 that both total exports and average daily exports have increased.

A Ministry of Industry official said: “For three consecutive months, we have achieved more than $ 40 billion in total exports and more than $ 1.9 billion in average daily exports,” and said: “We are continuing the upward trend with the recent momentum of export recovery “.

In addition, he explained, “In the quarterly comparison, exports in the fourth quarter (October-November) have been positive and exports are improving as they move from the second quarter to the third and fourth quarters, which were directly affected by the 19 Crown.”

Furthermore, the Ministry of Industry has assessed that Korea’s exports are improving in terms of quality. Exports are said to have become high value added and the new elements of the growth engine have been good.

Unit export prices in November increased by 15.1% compared to the same period last year. It has grown for four consecutive months since August of this year and, at the same time, has shown a double-digit rate of increase for the first time since October 2018.

Specifically, the export unit price of high value-added items such as OLED (organic light emitting diode, 92.2%), electric vehicle (23.3%), MCP (multi-chip package, 11.3%) ) and medical equipment (80.4%) increased all at once.

Exports of the seven new drivers of export growth such as biological health, secondary batteries, cosmetics, food for agriculture and fisheries, plastic products, raw materials of fine chemicals and robots also performed well. .

Biohealth’s monthly exports reached an all-time high, and cosmetics already hit record exports only in November.

◇ The outlook for December is also ‘positive’ … The establishment of the Biden government and the proliferation of the crown are variable

The government has predicted that the recovery trend in exports could continue in December as well.

Na Seung-sik, head of the trade and investment department of the Ministry of Industry, said in a briefing that day: “December has many working days, so I think conditions are better than November.”

However, the launch of the new US government and the spread of Corona 19 should remain a factor of uncertainty.

Mr. Na said: “It’s too early to predict because the Biden government is still before its inauguration.” She said.

Regarding the re-proliferation of Corona 19, he said: “There is not yet a particular impact and the situation where the recovery of exports continues, but we will continue to prepare countermeasures paying close attention.”

Although exports are improving in this way, annual trade of $ 1 trillion is expected to be difficult this year.

Parallel to exports, imports must also increase, as world trade conditions have deteriorated due to the extension of the Crown 19 and low oil prices have led to poor performance.

In this regard, an official from the Ministry of Industry said: “December is also the month with the largest amount of imports and there are still many variables, so we still have to look at it more.”

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2020/12/01 12:14 sent