The Ministry of Commerce, Industry and Energy (MOCIE) has announced export of September has renew the last record of $15.73 billion in April by achieving $17.2 billion which tops the record of the September of last year by 23.8%. Import made during September has increased $14.59 billion by 12.3% and balance of payment recorded $2.62 billion which is the 6th month in black. The $2.62 billion in black is the greatest after the lapse of 57 months in December 1998 ($3.77 billion).

Therefore export of this year September is $137.19 billion (increased by 17.1% from last year) and import is $128.85 billion (increased by 17.3%) and balance has recorded $8.34 billion in black. Balance of payment has exceed over $1 billion from last year’s $7.3 billion.

Inroads of China, improvements in domestic demand stagnation, increase in orders of wireless communication equipment and other major items has successfully promoted export despite difficulties in the drop of Won-dollar exchange rates, damage caused by typhoon ‘Maemi’, decrease in work days due to the Korean thanksgiving holiday and other difficulties. Efforts on normalizing walkouts in the automobile industry during July and August and efficiency at the end of the term has materialized the 4 month record.

Export items contributing to the record are wireless communication equipment ($1.78 billion, 37.7%), semi-conductor ($1.82 billion, 32.8%), computers ($1.46 billion, 33.7%) and automobiles ($1.69 billion, 41.0%). Automobile export has especially increased after the lapse of 3 months of normalization on setbacks due to walkout.

(Omitted)
Source : Ministry of Commerce, Industry and Energy on October 1, 2003