(LEAD) Exports increase 8.5 pct from June 1-20 on strong chip sales

Exports rose 8.5 percent on-year in the first 20 days of June on strong global demand for semiconductors, data showed Friday. Outbound shipments reached US$35.75 billion in the June 1-20 period, compared with $32.94 billion tallied a year earlier, according to the data from the Korea Customs Service. Per-day exports also advanced 8.5 percent on-year to $2.47 billion. Imports inched down 0.6 percent on-year to $34.2 billion during the cited period, resulting in a trade surplus of $1.5 billion. Exports, a key economic growth engine, rose 11.7 percent on-year to $58.1 billion in May on the back of strong shipments of semiconductors, extending on-year gains to the eighth straight month. The export growth was led by strong sales of semiconductors, a key export item. Chip exports soared 50.2 percent to $7.31 billion from June 1-20. Semiconductor exports accounted for 20.4 percent of the country's total exports during the cited period, up 5.7 percentage points from a year earlier amid an industry cycle uptur n. Sales of petroleum products advanced 6 percent to $2.52 billion. But auto exports shed 0.4 percent on-year to $3.35 billion, and sales of automotive parts fell 2.2 percent to $1.16 billion. Steel exports lost 4.3 percent to $2.47 billion, and exports of vessels sank 40.3 percent on-year to $1.07 billion. By nation, exports to the United States jumped 23.5 percent to $7.13 billion. Shipments to China rose 5.6 percent to $7.03 billion, and those to Vietnam climbed 30.7 percent to $3.53 billion. But exports to the European Union slid 7.3 percent to $3.33 billion. The government has expected exports to advance 8.5 percent this year to reach a record high of over $700 billion. Source: Yonhap News Agency