Exports fell more than five percent on-year in the first 20 days of October.

According to tentative data from the Korea Customs Service on Friday, the country’s outbound shipments stood at 32-point-four billion U.S. dollars in the cited period, down five-point-five percent from a year earlier. 

Average daily exports dropped by nine percent. The number of working days increased by a half day from last year to 13-point-five.

Shipments of petroleum products and automobiles rose 16-point-four percent and 32-point-one percent, respectively while exports of semiconductors and steel products slipped 12-point-eight percent and 17-point-six percent, respectively.  

Exports to the country's largest trading partner China fell 16-point-three percent, while shipments to the United States and the European Union each rose six-point-three percent and three point-four percent.

Imports rose one-point-nine percent on-year to 37-point-four billion dollars in the cited period, resulting in a trade deficit of four-point-95 billion dollars during the first 20 days of October. The deficit is larger than the shortfall of two-point-37 billion dollars logged a year earlier and the deficit of four-point-one billion dollars in the same period a month ago.