South Korea's exports lost 2.9 percent on-year in the first 20 days of October due to falling demand for vehicles and petroleum products and fewer working days, data showed Monday. Outbound shipments reached US$32.77 billion in the Oct. 1-20 period, compared with $33.74 billion tallied a year earlier, according to the data from the Korea Customs Service. Imports shed 10.1 percent on-year to $33.76 billion during the period, resulting in a trade surplus of $1 billion. In September, exports rose 7.5 percent on-year to US$58.7 billion, the 12th straight monthly gain, government data showed. Exports of semiconductors surged 36.1 percent to $7.1 billion during the first 20 days of October. Auto exports, however, fell 3.3 percent to $3.19 billion, and those of automotive parts went down 2 percent to $1.03 billion. Sales of steel products decreased 5.5 percent to $2.24 billion, and exports of petroleum products tumbled 40 percent to $2.1 billion. South Korea's government expected exports to advance 9 percent this year to reach a record high of over $700 billion. Source: Qatar News Agency
S. Korea’s Exports Fall 2.9% during First 20 Days of October
South Korea's exports lost 2.9 percent on-year in the first 20 days of October due to falling demand for vehicles and petroleum products and fewer working days, data showed Monday. Outbound shipments reached US$32.77 billion in the Oct. 1-20 period, compared with $33.74 billion tallied a year earlier, according to the data from the Korea Customs Service. Imports shed 10.1 percent on-year to $33.76 billion during the period, resulting in a trade surplus of $1 billion. In September, exports rose 7.5 percent on-year to US$58.7 billion, the 12th straight monthly gain, government data showed. Exports of semiconductors surged 36.1 percent to $7.1 billion during the first 20 days of October. Auto exports, however, fell 3.3 percent to $3.19 billion, and those of automotive parts went down 2 percent to $1.03 billion. Sales of steel products decreased 5.5 percent to $2.24 billion, and exports of petroleum products tumbled 40 percent to $2.1 billion. South Korea's government expected exports to advance 9 percent this year to reach a record high of over $700 billion. Source: Qatar News Agency