South Korea's Exports Rise 1.4% as Semiconductor Sales Surge

Sejong, South Korea—Government data showed on Sunday that South Korea's exports rose 1.4% in November from a year earlier to $56.35 billion, marking the fourteenth consecutive month of growth despite labor strikes and weather disruptions affecting key industries.

According to the Ministry of Trade, Industry, and Energy, the trade surplus reached $5.61 billion in November, extending the surplus streak to 18 months. Imports fell 2.4% to $50.74 billion.

Semiconductor exports, the country's leading export item, surged 30.8% to $12.5 billion, posting record November figures and marking the thirteenth month of growth. 

Computer exports more than doubled, jumping 122.3%.

However, auto exports dropped 13.6% due to early November strikes by auto parts workers and shipment delays caused by severe weather conditions late in the month. 

Petroleum products fell 18.7% amid lower oil prices.

"Despite unexpected negative factors affecting our exports, we maintained positive export growth for 14 consecutive months thanks to strong performance in semiconductors and ships," Trade Minister Ahn Duk-geun said.

The ministry plans to boost year-end exports by directly visiting export sites starting December 2 and will host an international marketing event with 150 major global buyers on December 3-4.

By region, exports to the EU hit a November record, while ASEAN-bound shipments returned to growth. 

Exports to China, Korea's largest trading partner, remained stable at $11.3 billion.