As the rate of increase in imports rather than exports increased more steeply in the second half of last year and recently, Koreans' overseas stock investment has doubled than that of foreigners' domestic stock investment, which is focused on semiconductors.
As of January 10, exports were $13.9 billion, up 24.4% ($2.74 billion) from the same period a year earlier, and imports increased by 57.1% ($6.86 billion) to $18.9 billion, according to the Korea Customs Service.
Last year, the annual export amount was 644.54 billion dollars, up 25.8% from the previous year, but imports increased by 31.5% to 615.05 billion dollars.
Exports in December were $60.74 billion, an increase of 18.3%, and imports were $61.32 billion, double the increase of 37.4%.
The Ministry of Trade, Industry and Energy's exports in November reached a record high of $59.65 billion, an increase of $12.74 billion (27.1%) compared to the same month of the previous year, the highest level in history, while imports increased by $16.7 billion (45.3%) to $53.7 billion. This is the highest level since the statistics were compiled.
Although the Bank of Korea's balance of payments in November increased by $6.54 billion in net assets of financial accounts of capital inflows and outflows, most of the $2.95 billion increase in domestic securities investment by foreigners ($2.05 billion in stocks) was centered on semiconductor companies, and investment in bonds was down from the previous month ($6.27 billion). On the other hand, overseas securities investment by Koreans increased by $6.55 billion ($4.9 billion in stocks, $1.65 billion in bonds), the 20th consecutive month of increase.
The Bank of Korea announced on the 10th that, on a cumulative basis from January to November last year, imports increased by 30.9% compared to the same month of the previous year, and export growth rate was 26.6%.
The government's coronavirus stimulus package is a semiconductor-led export support-type domestic demand-stimulating money supply expansion policy in order to achieve an early rebound in the stock market due to the early end of the corona virus.