SEOUL: South Korea’s export dropped in double digits for the first 20 days of this month due to soft demand for locally-made semiconductors and lower oil products prices, customs office data showed Friday.
Outbound shipment dipped 15.2 percent from a year earlier to $31.23 billion during the July 1-20 period, according to Korea Customs Service.
The daily average export retreated 15.2 percent in the 20-day period.
The country’s export kept sliding for the ninth successive month through June on weaker global demand for locally-made products.
Import tumbled 28.0 percent to $32.59 billion in the 20-day period, sending the trade deficit to $1.36 billion.
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Semiconductor export plunged 35.4 percent in the cited period, keeping a downward trend since August last year.
Outbound shipment for oil products, steel and mobile devices declined in double figures, but automotive shipment 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, machinery and semiconductor equipment dwindling in double figures.
