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S. Korea's exports fall 1.9 pct in first 10 days of July

All News 09:27 July 11, 2018

SEJONG, July 11 (Yonhap) -- South Korea's exports declined 1.9 percent on-year during the first 10 days of July largely due to a base effect, customs data showed Wednesday.

The country's outbound shipments reached US$14 billion in the July 1-10 period, according to the data from the Korea Customs Service.

The office said that daily average exports, which reflect working days, dipped 8.4 percent on-year to $1.86 billion compared to a year earlier.

By product, outbound shipments of semiconductors surged 47.6 percent, with those of autos rising 27.9 percent. Exports of petrochemical goods climbed 63.1 percent.

On the other hand, ship exports plunged 94.7 percent, the latest numbers showed.

Exports to China, the United States and the European Union shot up 42.7 percent, 32.2 percent and 42.1 percent on-year, respectively.

Imports advanced 19.3 percent to $14.9 billion, resulting in a trade deficit of around $889 million.

Outbound shipments reached $51.23 billion last month, slipping 0.09 percent from a year ago, according to the data compiled by the Ministry of Trade, Industry and Energy. Imports surged 10.7 percent on-year to $44.91 billion.

Containers carrying export goods are stacked on piers in Busan, South Korea's largest port city. (Yonhap)


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