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Exports Fall 17.4% in First 20 Days of March

Written: 2023-03-21 09:47:38Updated: 2023-03-21 14:43:58

Exports Fall 17.4% in First 20 Days of March

Photo : YONHAP News

The downward trend in exports continued with outbound shipments in the first 20 days of March declining by over 17 percent from a year earlier.

According to tentative data from the Korea Customs Service on Tuesday, exports came to 30-point-95 billion U.S. dollars in the cited period, down 17-point-four percent from the same period last year to continue a decline for five consecutive months since last October.

The average daily exports based on the number of working days plummeted by 23-point-one percent with the number increasing by one from last year to 14 and a half days.

Exports of automobiles jumped nearly 70 percent on-year during the cited period, while shipments of semiconductors fell 44-point-seven percent on-year.

Shipments of petroleum products and wireless communication devices also fell by ten-point-six percent and 40-point-eight percent, respectively.

Exports to the country's largest trade partner, China, slipped 36-point-two percent, while shipments to the U.S. rose four-point-six percent.

Imports declined five-point-seven percent on-year to 37-point-27 billion dollars during the same period, resulting in a trade deficit of six-point-32 billion dollars.

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