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Exports Fall 14.8% in First 10 Days of July

Written: 2023-07-11 09:30:23Updated: 2023-07-11 09:36:08

Exports Fall 14.8% in First 10 Days of July

Photo : YONHAP News

Exports fell nearly 15 percent on-year in the first ten days of July.

According to tentative data from the Korea Customs Service on Tuesday, the country’s outbound shipments marked 13-point-26 billion dollars in the cited period, down 14-point-eight percent from a year earlier.

Average daily exports also dropped by 14-point-eight percent with the number of working days the same as last year at seven.

The latest data continues the downward trend in exports that has persisted for nine consecutive months since October of last year.

Imports dropped 26-point-nine percent on-year to 15-point-54 billion dollars during the period, resulting in a trade deficit of two-point-27 billion dollars, increasing from the same time frame previous month when it posted a shortfall of one-point-42 billion dollars.

Last month, the country posted a trade surplus of one-point-13 billion dollars, reporting the first trade surplus in 16 months.

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