South Korea's exports rose by 18.5% year-on-year in the first 20 days of August, compared to the same period in 2023, according to data.

The Korea Customs Service stated in a statement on Wednesday that the value of Korean exports reached $33.1 billion from August 1 to 20, up from $27.7 billion in the same period last year, as reported by South Korea's Yonhap News Agency.

The value of imports reached $34.6 billion, an increase of 10.1% year-on-year, resulting in a trade deficit of $1.47 billion.

By sector, semiconductor exports soared by 42.4% year-on-year to $6.7 billion during the first seven months of this year, while petroleum product exports increased by 11.7% to $2.9 billion.

By destination, exports to China recorded $6.82 billion, up 16.3% during the mentioned period, while exports to the United States grew by 18% to $5.19 billion.

In July, exports continued to rise year-on-year for the tenth consecutive month, driven by strong performance in the semiconductor sector, maintaining a trade surplus for 14 consecutive months.