Exports decreased 15.2 percent during first 20 days of July


SEJONG, July 21 (Yonhap) — South Korea’s exports experienced a 15.2 percent decline year-on-year in the first 20 days of July, due to the ongoing slump in the chip sector, data indicated Friday.

The nation’s outbound shipments totaled $31.2 billion in the July 1-20 period, compared to the $36.8 billion recorded in the same period of the previous year, according to the figures from the Korea Customs Service.

Imports dropped 28 percent year-on-year to $32.6 billion during the period, resulting in a trade deficit of $1.36 billion.

In June, South Korea’s exports decreased 6 percent year-on-year to $54.24 billion. However, the month had the least on-year export reduction so far this year, potentially suggesting the country’s exports may recover in the second half of the year.

The nation reported a trade surplus for the first time in 16 months in June.

South Korea publishes its full monthly export report on the first day of each month.

Containers are stacked at a pier in the southeastern port city of Busan, in this July 4, 2023, file photo. (Yonhap)


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