South Korea Records Record Growth in Exports 2024

South Korea achieved a remarkable increase in its exports for 2024, recording an 8.2% rise compared to the previous year.

Record Exports Reach $683.8 Billion

The Ministry of Trade of South Korea announced that the country’s total exports reached $683.8 billion in 2024, setting a new record.

Semiconductors Drive the Growth

Semiconductor shipments were the main driver of this growth, significantly boosting exports.

Decline in Imports Leads to Trade Surplus

While imports fell by 1.6% to $632billion\ast \ast ,thecountryrecordeda\ast \ast tradesurplus\ast \ast of\ast \ast$51.8 billion.

Continued Positive Trend

The increase in exports is a positive indicator of the recovery of the South Korean economy, highlighting the strength of key industrial sectors such as electronics.

Strong Future Prospects

Korea is expected to continue enhancing its global economic position in the coming years, driven by increasing demand for advanced technology.