South Korea’s semiconductor exports rose in the first 10 days of November, reversing their 13-month downward trend, data show, raising the prospect of a long-awaited recovery in the country’s largest export item market.

Exports of semiconductor products gained 1.3% in the November 1-11 period, compared to the same period of last year, according to the Korea Customs Service on Monday.

It marked the first on-year growth in South Korea's outbound semiconductor shipments in the first 10 days of a month, after a 7.9% increase in the same period of September 2022.

The Nov. 1-11 data reinforced expectations South Korea’s semiconductor exports for all of this month would break the 15-month slump since August of last year on a monthly basis.