Korea's exports log 6.8% on-year gain during first 20 days of December

The Republic of Korea's exports grew 6.8 percent from a year earlier in the first 20 days of this month, mainly on the back of strong global demand for semiconductors, according to data from the Korea Customs Service on Monday.

Outbound shipments reached US$43 billion in the 1st to 20th December period, compared with $40 billion tallied over the same period last year, Yonhap News Agency reported.

This marks an all-time high for the period. The previous record was set last year.

Chip exports jumped 41.8 percent on-year to $11.65 billion, accounting for 27.1 percent of the country's total exports during the cited period.

Shipments of cars dropped 12.7 percent to $3.25 billion, and petroleum exports contracted 1 percent to $2.63 billion.

Imports inched up 0.7 percent on-year to $39.2 billion during the period, resulting in a trade surplus of $3.8 billion.

In November, exports grew 8.4 percent from a year earlier to $61 billion, marking the sixth consecutive month of increase on the back of strong demand for semiconductors.