$16 billion in exports at the beginning of the new year...3.8% year-on-year ↑

Korea's exports started on an upward trajectory at the beginning of the new year.

The Korea Customs Service said exports amounted to $16 billion from the 1st to 10th of this month, up 3.8% from the same month last year.

By export item, exports of petroleum products fell 47%, while semiconductors rose 23.8%, passenger cars rose 4.7%, and ships rose 15.7%.

Imports earlier this month were $19 billion, up 2.6% from January last year, bringing the trade balance to a deficit of $3 billion.

While exports usually rise toward the end of the month rather than the beginning of the month, the monthly trade balance has continued to remain in the black for 19 consecutive months until last month.