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S. Korea's Jan. 1-20 exports jump 25 pct: customs data

All News 10:23 January 21, 2017

SEOUL, Jan. 21 (Yonhap) -- South Korea's exports have jumped 25 percent so far this year thanks to strong overseas demand for oil-related products and semiconductors, customs data showed Saturday.

South Korea shipped US$27.6 billion worth of products from Jan. 1-20, up from $22.1 billion registered in the same period of last year, according to the data provided by the Korea Customs Service.

The spike followed 2.5 percent and 6.4 percent on-year export increases in November and December last year.

Oil products led the increase with their exports jumping 86 percent from a year earlier. Exports of semiconductors also hiked 52.5 percent, with outbound shipment of steel products going up 19.9 percent over the cited period.

Exports of ships and wireless communication devices, however, shrank 26.7 percent and 8.5 percent, respectively, the data showed.

By region, exports bound for Vietnam surged 62.7 percent, while those shipped to the European Union, Japan and China expanded 40.3 percent, 34.7 percent and 25.6 percent. Exports bound for the United States also grew 14.9 percent, according to the data.

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