South Korea’s exports fall 2.7 pct during first 20 days of January

Seoul, Jan. 21 (BNA): South Korea’s exports fell 2.7% year-on-year in the first 20 days of January, data showed Saturday, mainly due to weak semiconductor shipments.

Outbound shipments to the country amounted to $33.6 billion in the January 1-20 period, compared with $34.5 billion a year earlier, according to data released by the Korea Customs Service.

Imports rose 9.3% year-on-year to $43.8 billion during the cited period, Yonhap News Agency reported, resulting in a trade deficit of $10.2 billion.

The data showed that shipments of chips, one of the main export products, fell by 34.1 percent and steel exports fell by 11.2 percent.

Exports to China, South Korea’s largest trading partner, fell 24.4 percent, marking a decline for the seventh consecutive month.

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