A Comprehensive Analysis of Recent Korean Export Performance

Sung Keun Park (), Jung Min Han () and Sungwoo Kang ()
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Sung Keun Park: Korea Institute for Industrial Economics and Trade, Postal: Sejong National Research Complex, Korea Institute for Industrial Economics and Trade, 370 Sicheong Dae-ro C-dong 8-12F 30147, Republic of Korea, https://www.kiet.re.kr/en
Jung Min Han: Korea Institute for Industrial Economics and Trade, Postal: Sejong National Research Complex, Korea Institute for Industrial Economics and Trade, 370 Sicheong Dae-ro C-dong 8-12F 30147, Republic of Korea, https://www.kiet.re.kr/en
Sungwoo Kang: Korea Institute for Industrial Economics and Trade, Postal: Sejong National Research Complex, Korea Institute for Industrial Economics and Trade, 370 Sicheong Dae-ro C-dong 8-12F 30147, Republic of Korea, https://www.kiet.re.kr/en

No 24-22, Industrial Economic Review from Korea Institute for Industrial Economics and Trade

Abstract: Recently, Korean exports have exhibited robust growth, driven primarily by shipments of automobiles and IT products such as semiconductors. The semiconductor market began to recover in October of 2023 despite ongoing geopolitical tensions, and Korean chip exports have surged in response. The upward trajectory of exports has continued ever since. The United States has emerged as the largest consumer of Korean exports, having continually increased its share since 2020. It replaces China at the top spot, exports to which have declined for three consecutive years now. In the first half of this year, Korea recorded a trade surplus of USD 28.7 billion with the US, which stands in stark contrast to its USD 5.4 billion deficit with China.

Keywords: exports; trade; macroeconomy; auto industry; battery industry; semiconductors; shipbuilding; automotive sector; batteries; KIET; Korea (search for similar items in EconPapers)
JEL-codes: F10 F13 F20 F21 F23 F50 (search for similar items in EconPapers)
Pages: 19 pages
Date: 2024-09-01
New Economics Papers: this item is included in nep-inv
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