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(LEAD) Korea's exports set to decline for 8th straight month in July

Economy 09:24 July 22, 2019

(ATTN: CHANGES headline; UPDATES with details in paras 1-6; ADDS photo)

SEJONG, July 22 (Yonhap) -- South Korea's exports are set to extend their slump to an eighth month in July, driven by a decline in outbound shipments of semiconductors and petrochemical goods, data showed on Monday.

The country's exports fell 13.6 percent in the first 20 days of July from a year earlier to US$28.3 billion, according to the data compiled by the Korea Customs Service.

Average daily exports -- which reflect working days -- declined 16.2 percent on-year to $1.71 billion.

By product, exports of semiconductors and petroleum products fell 30.2 and 15.6 percent, respectively. Outbound shipments of passenger cars and wireless communication devices rose 19.5 percent and 7.2 percent, respectively.

By destination, South Korea's exports to Vietnam and Singapore rose 8.7 percent and 0.9 percent, respectively. South Korea's shipments to China and the United States -- south Korea's top two trading partners -- fell 19.3 percent and 5.1 percent, respectively.

South Korea imported goods worth $28.7 billion in the 20-day period, down 10.3 percent from a year earlier.

This undated file photo shows containers carrying export goods stacked on piers in the southeastern city of Busan, South Korea's largest port city. (Yonhap)


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