Exports fell more than 16 percent on-year in the first 20 days of August.

According to tentative data from the Korea Customs Service on Monday, the country’s outbound shipments marked 27-point-85 billion dollars in the cited period, down 16-point-five percent from a year earlier.

Average daily exports also dropped by ten-point-seven percent with the number of working days decreasing by one day from last year to 14 and a half.

Exports of automobiles and ships rose 20-point-two percent and 54-point-nine percent each, while semiconductors slipped 24-point-seven percent on-year.

Outbound shipments to China and the United States fell 27-point-five percent and seven-point-two percent, respectively, while exports to Hong Kong rose 36-point-one percent.

Imports dropped 27-point-nine percent on-year to 31-point-42 billion dollars during the period, resulting in a trade deficit of three-point-56 billion dollars, more than double the shortfall of one-point-35 billion dollars logged a month earlier.