Exports fell nearly eight percent on-year in the first ten days of September.

According to preliminary data from the Korea Customs Service on Monday, the country’s outbound shipments marked 14-point-86 billion dollars in the cited period, down seven-point-nine percent on-year.

However, the decline is less severe than the previous month when exports slipped 15-point-three percent during the same period. 

Average daily exports dropped by 14-point-five percent, considering a slight increase in the number of working days by half a day, totaling seven.

Exports of automobiles and wireless communication devices rose 32-point-four percent and five-point-six percent, respectively. Meanwhile, semiconductor exports slipped 28-point-two percent on-year.

Outbound shipments to the United States increased two-point-three percent, while exports to China and Vietnam decreased 17-point-seven percent and one-point-two percent, respectively.

Imports fell eleven-point-three percent on-year to 16-point-54 billion dollars during the same period. This resulted in a trade deficit of one-point-64 billion dollars, smaller than the three-point-01 billion dollar shortfall logged a month earlier.