Anchor: South Korean exports set a new record in May, expanding nearly 46 percent on-year, the biggest hike in 32 years. Shipments jumped in 14 out of 15 key areas, with exports of semiconductors exceeding ten billion dollars for the first time since 2018.
Choi You Sun reports.

Report: The Ministry of Trade, Industry and Energy announced on Tuesday that the nation's exports jumped 45-point-six percent on-year last month to stand at 50-point-73 billion dollars.

Amid the seven-month rising streak, shipments surpassed 50 billion dollars for the third straight month. The latest on-year hike is the biggest to be recorded in 32 years.

The ministry said it is also the first time that exports expanded in the 40-percent range for two consecutive months.

Accumulated shipments since January totaled 248-point-four billion dollars, the largest amount on record for the five-month period.

Exports in semiconductors rose 24-point-five percent to continue the eleven-month streak, surpassing ten billion dollars for the first time since 2018.

Shipments of petroleum products spiked 164 percent, while exports of petrochemicals expanded 94-point-nine percent and those for automobiles jumped 93-point-seven percent, a near 15-year high.

Imports also rose 37-point-nine percent on-year in May to record 47-point-81 billion dollars, with the trade balance staying in the black for the 13th straight month.

The ministry assessed that the nation's export fundamentals have solidified and that recoveries at home and abroad have gained speed for sustainable growth in shipments.
Choi You Sun, KBS World Radio News.