Korea’s exports fall 14.6% in first 20 days of January


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South Korea’s exports dropped 14.6 percent on-year in the first 20 days of January, hit by a plunge in overseas shipments of semiconductors, customs data showed Monday.

The country’s exports stood at $25.7 billion in the January 1-20 period, according to Korea Customs Service.

(Yonhap)

The customs office said daily average exports — which reflect working days — declined 8.7 percent on-year to $1.77 billion.

By product, exports of semiconductors nosedived 28.8 percent, while shipments of passenger cars jumped 29 percent.

In the first 20 days of the month, South Korea’s imports fell 9.5 percent on-year to reach $27.2 billion, resulting in a trade deficit of $1.62 billion, the KCS said.

By destination, South Korea’s exports to the United States, the European Union and Singapore rose 16.9 percent, 4 percent and 2.7 percent, respectively.

South Korea’s shipments to China and Vietnam, however, dropped 22.5 percent and 15.1 percent, respectively. (Yonhap)


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