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Korea’s exports down 2% in first 20 days of December

Korea’s exports down 2% in first 20 days of December

South Korea’s exports fell 2 percent in the first 20 days of December mainly due to decreased shipments of semiconductors and ships, customs data showed Monday.

The country’s exports stood at $30.4 billion in the Dec. 1-20 period, compared with $31.06 billion in the same period last year, according to the Korea Customs Service.

By product, exports of semiconductors and ships fell 16.7 percent and 51.2 percent, respectively.

In contrast, outbound shipments of passenger cars and wireless equipment rose 2.7 percent and 3 percent, respectively, according to the data.

The average daily exports — which reflect working days — also declined 5.1 percent on-year for the first 20 days of December, the data showed.

By destination, South Korea’s exports to China and Japan rose 5.3 percent and 6.2 percent, respectively.

But shipments to the United States and Vietnam fell 3.4 percent and 6.1 percent, respectively.

South Korea imported goods worth $30.1 billion in the 20-day period, down 0.5 percent from a year earlier.

In November, South Korea’s exports slipped 14.3 percent from a year earlier to extend their slump to a 12th consecutive month, amid the protracted trade row between the US and China, and an extended slump in chip prices.

Outbound shipments reached $44.1 billion last month, compared with $51.4 billion a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy.

Imports fell 13 percent on-year last month to $40.7 billion, the ministry added, decreasing for the seventh consecutive month. (Yonhap)