Delivery containers are stacked at a port within the southeastern metropolis of Busan, Sept. 30. Yonhap
Korea’s exports misplaced 2.9 p.c on-year within the first 20 days of October resulting from falling demand for automobiles and petroleum merchandise and fewer working days, information confirmed Monday.
Outbound shipments reached $32.77 billion within the Oct. 1-20 interval, in contrast with $33.74 billion tallied a yr earlier, based on the information from the Korea Customs Service.
Per-day exports, nevertheless, rose 1 p.c on-year to $2.62 billion.
The variety of working days throughout the cited interval of this yr got here to 12.5 days, in contrast with 13 days a yr earlier.
Imports shed 10.1 p.c on-year to $33.76 billion throughout the interval, leading to a commerce surplus of $1 billion.
In September, exports rose 7.5 p.c on-year to US$58.7 billion, the twelfth straight month-to-month acquire, authorities information confirmed.
Exports have led Korea’s general financial restoration since late final yr after a yearlong downturn.
Exports of semiconductors surged 36.1 p.c to $7.1 billion throughout the first 20 days of October.
Semiconductor exports accounted for 21.7 p.c of the nation’s complete exports throughout the cited interval, up 6.2 proportion factors from a yr earlier amid an trade cycle upturn.
Auto exports, nevertheless, fell 3.3 p.c to $3.19 billion, and people of automotive components went down 2 p.c to $1.03 billion.
Gross sales of metal merchandise decreased 5.5 p.c to $2.24 billion, and exports of petroleum merchandise tumbled 40 p.c to $2.1 billion.
Ship gross sales misplaced 16.2 p.c to $1.36 billion.
By nation, shipments to China went up 1.2 p.c to $7.24 billion, whereas exports to the USA inched down 2.6 p.c to $5.62 billion.
Exports to Vietnam superior 1.1 p.c to $3.19 billion, however these to the European Union fell 8.9 p.c to $3.16 billion.
Exports to Taiwan soared 90 p.c to $1.92 billion, whereas shipments to Japan slid 12.6 p.c to $14.5 billion.
The federal government anticipated exports to advance 9 p.c this yr to succeed in a report excessive of over $700 billion. (Yonhap)
