Korea's Export Decline Slows

  • By Ahn Joong-hyeon

    June 23, 2020 12:13

    Korea's exports in the first 20 days of this month declined 7.5 percent on-year to reach US$25 billion, the Korea Customs Service said Monday. That contrasts with a 20.3 percent decline in the first 20 days of May.

    Average daily exports fell 16.2 percent on-year factoring in the difference in weekdays this month. There were 16 working days during the first 20 days of June this year but only 14.5 in June 2019.

    Exports of semiconductors even grew 2.6 percent, ships 35.5 percent, and mobile communication equipment 10.9 percent, but shipments of cars plunged 36.7 percent and petroleum products 40.9 percent.

    Exports to China rose 14.5 percent and to Singapore 16.7 percent, but to the U.S. they fell 10 percent, the EU 13.9 percent, Vietnam eight percent, Japan 16 percent and the Middle East 19 percent.

    Meanwhile, imports in the first 20 days of this month declined 12 percent on-year to $24.5 billion.

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