April 19, 2024
Economy
Exports down 2.6% in first 10 days of July
South Korea’s exports fell 2.6 percent in the first 10 days of July mainly due to decreased shipments of semiconductors, one of the country’s key items, customs data showed on July 11.
The country’s exports stood at $13.6 billion in the July 1-10 period, compared with $13.9 billion in the same period last year, according to the Korea Customs Service.
 |
By product, exports of semiconductors and petroleum products fell 25 percent and 3 percent, respectively.
Meanwhile, outbound shipments of passenger cars and wireless communications devices jumped 24.2 percent and 18.9 percent, respectively, the data showed.
Korea’s shipments to the United States rose 11.2 percent, while its exports to China fell 13.2 percent. China and the US are Korea’s top two trading partners.
Korea imported goods worth $15.5 billion in the 10-day period, up 4 percent from a year earlier.
The country’s exports fell 13.5 percent on-year to $44.18 billion in June, extending their on-year decline for the seventh consecutive month amid the prolonged trade row between the United States and China -- the world’s top two economies -- and a drop in chip prices.
By Ram Garikipati and newswires (ram@heraldcorp.com)
