South Korea's exports rose by nearly 20 percent on-year in the first 20 days of July on the back of strong demand for semiconductors and an increased number of working days.

According to preliminary data from the Korea Customs Service on Monday, the country’s outbound shipments reached over 37-point-one billion U.S. dollars during the cited period, up 18-point-eight percent from a year earlier.

Average daily exports increased eleven-point-six percent, with the number of working days increasing by one day from a year ago to 16 and a half days.  

Exports of semiconductors jumped 57-point-five percent while shipments of automobiles and petroleum products rose one-point-eight percent and 28 percent, respectively. Exports of ships, however, dropped 49 percent.

Exports to China grew over 20 percent, and shipments to the United States and the European Union increased 13-point-four percent and three-point-three percent, respectively.

Imports went up 14-point-two percent on-year to 37-point-two billion dollars during the period, resulting in a trade deficit of 50 million dollars.