According to reports, since the resumption of growth in November of last year, ending the 15-month year-on-year decline, South Korea's monthly semiconductor exports have continued to grow year-on-year, including in May.
According to data released by the Ministry of Trade, Industry and Energy of South Korea, their semiconductor exports in May reached US$11.38 billion, a year-on-year increase of 54.5%. The year-on-year increase of 54.5% in May means that the export value of South Korea's semiconductor products has increased year-on-year for 7 consecutive months, from November last year to May this year.
According to the data released by South Korea, their semiconductor exports in May not only increased year-on-year, but also increased month-on-month. In April, South Korea's semiconductor exports were US$9.96 billion.
In addition to semiconductors, South Korea's exports of many products increased year-on-year in May. In May, South Korea's display exports increased by 15.8% year-on-year to US$1.63 billion; driven by electric vehicles and SUVs, their automobile exports increased to US$6.49 billion, a year-on-year increase of 4.8%; and ship exports doubled year-on-year in May to US$2 billion.
Driven by the year-on-year increase in the export value of chips, automobiles, ships and other products, South Korea's exports in May also increased significantly year-on-year. According to the data from the Ministry of Trade, Industry and Energy of South Korea, their exports in May were US$58.1 billion, an increase of 11.7% year-on-year.
