Seoul: South Korea's exports increased by 6.4 percent in the first 10 days of November compared to the same period last year, as reported on Tuesday. Outbound shipments totaled USD 15.8 billion from November 1-10, up from USD 14.9 billion during the same timeframe last year, according to data from the Korea Customs Service.

According to Yonhap News Agency, imports also saw an uptick, growing 8.2 percent year-on-year to USD 17 billion, which resulted in a trade deficit of USD 1.2 billion for the period. The Korea Customs Service attributed the rise in exports to strong global demand for semiconductors, automobiles, and ships. Specifically, semiconductor exports surged by 17.7 percent year-on-year to USD 3.86 billion, making up 24.4 percent of the country's total exports during the mentioned period.

Car exports saw a 16.2 percent increase, reaching USD 1.54 billion, and ship exports grew 8.7 percent to USD 654 million. However, exports of petroleum products declined by 14 percent to USD 991 million, and steel exports fell by 13.4 percent to USD 874 million, which was attributed to the effects of U.S. tariffs. Shipments of wireless communication devices also decreased by 21.1 percent to USD 465 million.

By destination, exports to China rose 11.9 percent to USD 3.7 billion, while those to the United States increased by 11.6 percent to USD 2.6 billion. Additionally, exports to the European Union went up by 10 percent to USD 1.4 billion. Conversely, exports to Vietnam dropped by 11.5 percent to USD 1.5 billion, and shipments to Japan decreased by 11.9 percent to USD 655 million.

In the previous month of October, South Korea's exports grew 3.6 percent from the prior year to USD 59.57 billion, supported by robust semiconductor demand, marking the fifth consecutive month of export growth.