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S. Korea logs decline in exports to FTA-linked countries

All News 10:50 July 30, 2019

SEJONG, July 30 (Yonhap) -- South Korea's exports to countries it has free trade agreements (FTAs) with fell 7.9 percent in the first half of 2019 from a year earlier, customs data showed Tuesday.

The country's outbound shipments to the United States, China and 50 other countries reached US$198.1 billion in the January-June period, compared with $215 billion in the same period of 2018, according to the data from the Korea Customs Service (KCS).

South Korea's imports from the 52 countries stood at $162.4 billion in the first half of 2019, resulting in a trade surplus of $35.7 billion, the KCS said.

In comparison, South Korea suffered a trade deficit of $16.6 billion with countries with which it does not have free trade pacts.

South Korea has clinched a series of free trade arrangements with major trading partners, including the United States and China, as well as Chile, Peru and Colombia, in recent years as part of its efforts to boost the country's export-driven economy.

S. Korea logs decline in exports to FTA-linked countries - 1


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