South Korea's semiconductor exports in May reached US$11.38 billion, up 7 consecutive months

According to foreign media reports, South Korea's monthly semiconductor exports have continued to grow year-on-year since resuming growth in November last year, ending 15 consecutive months of year-on-year decline, and the just-passed May was no exception.

Data released by South Korea's Ministry of Trade, Industry and Energy showed that their semiconductor product exports reached US$11.38 billion in May, a year-on-year increase of 54.5%.

The year-on-year growth in May was 54.5%, which means that the export volume of South Korea's semiconductor products has increased year-on-year for seven 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 other products also increased year-on-year in May.

In May, South Korea's exports of display screens 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%; exports of ships doubled year-on-year to US$2 billion in May.

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.