Last year, the global economic situation was challenging due to the Russo-Ukrainian War, the Zero COVID-19 pandemic, and the "Three Highs" phenomenon. Nevertheless, South Korea's exports in 2022 increased compared to the previous year, setting a new record for the second consecutive year. In particular, exports of new industries such as system semiconductors and electric vehicles increased, leading to the emergence of promising new products.

According to the 2022 annual and December export and import trend data released by the Export and Import Department on the 1st, exports in 2022 recorded $683.9 billion, a 6.1% increase year-on-year, and daily average exports recorded $2.51 billion, a 6.3% increase year-on-year.

Eight key export items, including semiconductors and automobiles, saw export growth for the second consecutive year, with semiconductors, automobiles, petroleum products, and secondary batteries recording record highs. Exports of displays, wireless communications, computers, and home appliances declined.

Semiconductor exports reached a record high of $10 billion for 17 consecutive months from May to September last year, despite a price decline in the second half of the year.

Automobile exports were influenced by improved supply and demand for automotive semiconductors and increased demand for eco-friendly vehicles. It recorded a high increase of 54.1 billion dollars since July, serving as a support for exports in the second half of the year.

Secondary battery exports have been fueled by growing demand for electric vehicles, driven by environmentally friendly policies in advanced markets. They achieved record-breaking performance, growing by double digits from $8.7 billion in 2021 to $9.99 billion in 2022.

In particular, last year, it was notable that exports of new industries and promising items, in addition to the main industries, increased evenly.

System semiconductors, electric vehicles, and agricultural, fishery, and food products are attracting attention as promising new mainstays.

System semiconductor exports increased from $39.76 billion in 2021 to $50.68 billion in 2022, electric vehicle exports from $6.99 billion in 2021 to $9.83 billion in 2022, and OLED exports from $14.53 billion in 2021 to $14.9 billion in 2022. Furthermore, the share of top-tier items also increased, reflecting the increased added value of our export industries.

Meanwhile, in December, exports of major items such as automobiles (USD 2.85 billion) and secondary batteries (USD 960 million) increased, while exports of semiconductors, petrochemicals, displays, and wireless communications decreased due to the slowdown in global demand.

Automobile sales recorded their highest monthly sales ever thanks to brisk sales of high-priced products such as SUVs and eco-friendly cars, while semiconductor sales declined due to a sharp decline in exports of memory semiconductors such as DRAM and NAND flash, as product prices continue to decline.