Korea’s exports decreased by 7.8% during the first 20 days of October
SEOUL, 21st October / WAM / The Republic of Korea’s exports decreased by 7.8% on an annual basis during the first 20 days of this October, due to the sharp decrease in the number of working days, as their value reached $30.15 billion, a decline of $2.57 billion from $32.7 billion recorded during the same period last year, according to data issued today by the Korean Customs Agency.
The Korean Yonhap News Agency reported that imports decreased by 2.3% on an annual basis to $32.9 billion during the aforementioned period, leading to a trade deficit of $2.8 billion.
By destination, exports to the United States fell by 24.7% year-on-year to $4.2 billion during the first ten days of the month, and exports to China also fell by 9.2% to $6.6 billion during the same period.
By product, semiconductor exports rose 47% year-on-year to $8.5 billion, accounting for 28.3% of the country’s total exports, an increase of 6.6 percentage points.
The country’s exports jumped by 12.7% during the month of September, on an annual basis, to $65.95 billion thanks to the strong demand for semiconductors, recording their highest level ever for the first time in 3 and a half years.
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