Exports fell more than 20 percent on-year in the first ten days of October, with the cumulative trade deficit this year surpassing 30 billion U.S. dollars for the first time.

According to tentative data from the Korea Customs Service on Tuesday, the country’s outbound shipments stood at eleven-point-eight billion dollars in the cited period, down 20-point-two percent from a year earlier.

Average daily exports dropped by 12-point-two percent, with the number of working days decreasing by half a day from last year to five.

Exports of automobiles and ships rose by five-point-four percent and 76-point-four percent, respectively, while shipments of semiconductors and petroleum products both slipped over 20 percent.

Exports to the European Union increased over ten percent, while outbound shipments to both China and the United States decreased by more than 20 percent. 

Imports fell eleven-point-three percent on-year to 15-point-six billion dollars during the cited period, resulting in a trade deficit of three-point-83 billion dollars.