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S. Korea's export drops 16.5 pct for first 20 days of August

SEOUL
2023-08-21 13:36

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SEOUL, Aug. 21 (Xinhua) -- South Korea's export dropped in double digits for the first 20 days of this month owing to soft demand for locally-made products, especially semiconductors, customs office data showed Monday.

Outbound shipment dipped 16.5 percent from a year earlier to 27.86 billion U.S. dollars in the Aug. 1-Aug. 20 period, according to Korea Customs Service.

The daily average export retreated 10.7 percent in the 20-day period.

The country's export kept sliding for the 10th consecutive month through July on weaker global demand for locally-made products.

Import tumbled 27.9 percent to 31.42 billion dollars in the 20-day period, sending the trade deficit to 3.56 billion dollars.

Semiconductor export plunged 24.7 percent in the cited period, keeping a downward trend since August last year.

Outbound shipment for oil products, steels and precision machinery shrank in double figures, but automotive export advanced in double digits on higher demand for eco-friendly vehicles.

Import for crude oil, natural gas and coal all recorded a double-digit fall in the 20-day period, with those for chips, cars and semiconductor equipment dwindling in double figures.
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