S.Korea's export posts double-digit fall for first 10 days of November

2019-11-11 14:18

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SEOUL, Nov. 11 (Xinhua) -- South Korea's export posted a double-digit fall for the first 10 days of this month on a continued downturn of the global semiconductor industry, customs office data showed Monday.

Export, which takes up about half of the export-driven economy, reached 11.9 billion U.S. dollars in the November 1-10 period, down 20.8 percent from the same period of last year, according to Korea Customs Service.

Chip export tumbled 33.3 percent as the global chip sector's downturn continued for the past year.

Oil product shipment diminished 27.1 percent amid the cheaper crude oil, and ship export plunged 64.4 percent in the period.

Auto export fell 3.8 percent, and shipment of telecommunication devices, such as smartphone, shrank 5.6 percent.

Export to China, South Korea's biggest trading partner, declined 17.1 percent in the period, with those to the United States and Vietnam sliding 18.4 percent and 20.2 percent each.

Shipment to Japan contracted 15.1 percent amid the continued trade feud between Seoul and Tokyo, while export to the European Union (EU) slipped 27.8 percent.

Import plunged 21.5 percent over the year to 12.3 billion dollars in the 10-day period, sending the trade deficit to 0.4 billion dollars.
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