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Exports down 16.7 pct during first 20 days of Nov.

Economy 09:10 November 21, 2022

SEOUL, Nov. 21 (Yonhap) -- South Korea's exports fell 16.7 percent on-year in the first 20 days of November due mainly to weak outbound shipments of chips and mobile devices, data showed Monday.

The country's monthly exports stood at US$33.2 billion in the Nov. 1-20 period, compared with $39.8 billion a year earlier, according to the data from the Korea Customs Service.

Imports also went down 5.5 percent on-year to $37.6 billion during the cited period, resulting in a trade deficit of $4.4 billion.

Outbound shipments of chips, South Korea's mainstay export product, declined 29.4 percent, the data showed.

Exports stood at US$52.48 billion in October, down 5.7 percent from $55.7 billion a year earlier, separate data from the trade ministry showed. It was the first on-year drop since the 3.6 percent fall posted in October 2020.

colin@yna.co.kr
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