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July's exports down 11 pct to $46.1 bln: customs office

All Headlines 09:25 August 16, 2019

SEOUL, Aug. 16 (Yonhap) -- South Korea's outbound shipments reached US$46.1 billion last month, falling a whopping 11 percent from a year earlier, due mainly to sluggish exports of semiconductors and petrochemical goods, customs data showed Friday.

The country's imports also slipped 2.7 percent to $43.7 billion last month, resulting in a trade surplus of $2.4 billion and marking the 90th consecutive month in the black, according to the finalized data compiled by the Korea Customs Service.

For the January-July period, South Korea's exports sank 8.9 percent on-year to reach $317 billion, the data showed. Imports moved down 4.7 percent to $295 billion.

By products, outbound shipments of chips, one of South Korea's mainstay export products, nose-dived 27.6 percent in July from a year earlier to $7.69 billion, with those of petrochemical products surrendering 10.6 percent.

Exports of automobiles, on the other hand, moved up 22.6 percent to $3.6 billion, according to the agency.

Amid the growing trade row between the world's top two economies, South Korea's exports to China fell 16.6 percent on-year in July. U.S.-bound exports also shed 0.7 percent over the period.

July's exports down 11 pct to $46.1 bln: customs office - 1


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