S.Korea's Export Falls In 1st 15 Days Of January

Muhammad Irfan Published January 16, 2023 | 06:41 PM

South Korea's export fell in the first 10 days of January, posting a trade deficit amid higher import, customs office data showed Monday

SEOUL, Jan. 16 (UrduPoint / Pakistan Point News - 16th Jan, 2023 ) South Korea's export fell in the first 10 days of January, posting a trade deficit amid higher import, customs office data showed Monday.

Outbound shipment came to 13.86 billion U.S. Dollars during the Jan. 1-Jan. 10 period, down 0.9 percent compared to the same period of last year, according to Korea Customs Service.

The daily average export dwindled 14.1 percent in the 10-day period.

The export kept a downward trend for the third consecutive month through December as rising worries about global economic downturn weakened demand for locally-made products.

During the 10-day period, semiconductor shipment tumbled 29.5 percent, with those for precision machinery, steel products and home appliances retreating in double figures.

Export to the United States and the European Union (EU) gained in double digits, but shipment to Vietnam declined in the period.

Import gained 6.3 percent to 20.13 billion dollars in the Jan. 1-Jan. 10 period, sending the trade deficit to 6.27 billion dollars.