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S.Korea logs 9.47 bln USD of trade deficit in August

SEOUL
2022-09-01 10:56

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SEOUL, Sept. 1 (Xinhua) -- South Korea logged 9.47 billion U.S. dollars of trade deficit last month on faster increase in import than export, government data showed Thursday.

The country's trade balance stayed in red for the fifth consecutive month since April, according to the Ministry of Trade, Industry and Energy.

Export grew 6.6 percent from a year earlier to 56.67 billion dollars in August, while import soared 28.2 percent to 66.15 billion dollars.

Import of the country's three major energy sources, crude oil, natural gas and coal, came to 18.52 billion dollars in August, up 91.8 percent from a year earlier.

Export for six of the 15 major export items gained ground last month including oil products and secondary batteries.

Semiconductor export declined for the first time in 26 months due to weaker global demand and lower chip prices.
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