Seoul, December 12 (NA) — South Korea's export volume rebounded by 6.8% year-on-year in November, driven by strong global demand for domestically manufactured semiconductors, Argentina's Noticias Agencia learned from data by the Bank of Korea (BOK).
This increase contrasts with the 1.1% decline recorded in October and is mainly due to the growth in shipments of computers, electronic, and optical devices, whose volume increased by 10.5% year-on-year thanks to the boom in chipsets used in artificial intelligence (AI).
Strong performance in transportation and decline in petroleum derivatives
The BOK report details that exports of transport equipment registered a double-digit growth, while shipments of coal and petroleum derivative products showed a double-digit decrease during the month.
In value terms, exports grew by 9.1% year-on-year in November, while the volume of imports increased by 4.3%, and the value of imports rose by 0.7% from the previous year.
The net terms of trade index, which measures the relationship between export and import prices, recorded a 5.8% year-on-year improvement due to the fall in import prices, which favored the country's external competitiveness.
