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S.Korea logs trade deficit in 1st 20 days of April

SEOUL
2022-04-21 13:22

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SEOUL, April 21 (Xinhua) -- South Korea logged trade deficit for the first 20 days of April due to a faster growth in import than export, customs office data showed Thursday.

Trade deficit stood at 5.2 billion U.S. dollars in the April 1-20 period, up from a deficit of 2.03 billion dollars tallied in the same period of last year, according to Korea Customs Service.

Export gained 16.9 percent to 36.28 billion dollars in the 20-day period, while import jumped 25.5 percent to 41.48 billion dollars.

The double-digit increase in import was mainly driven by higher commodity prices.

Import for crude oil and natural gas surged over 80 percent, and coal import more than doubled in the cited period.

The import of crude oil, natural gas and coal, the country's three major energy sources, topped 10 billion dollars.

Export for semiconductors, oil products and automotive parts increased 22.9 percent, 82.0 percent and 3.9 percent respectively.

Shipment to China, South Korea's biggest trading partner, added 1.8 percent in the 20-day period, and those to the United States, the European Union (EU) and Vietnam soared in double figures.
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