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Exports fall 2.7% during first 20 days of January

Jan. 21, 2023 - 13:27 By Yonhap
This file photo taken Jan. 10, 2023, shows containers at a port in Busan, 325 kilometers southeast of Seoul. (Yonhap)

South Korea's exports fell 2.7 percent on-year in the first 20 days of January, data showed Saturday, due mainly to weak semiconductor shipments.

The country's outbound shipments stood at US$33.6 billion in the Jan. 1-20 period, compared with $34.5 billion a year earlier, according to the data from the Korea Customs Service.

Imports rose 9.3 percent on-year to $43.8 billion during the cited period, resulting in a trade deficit of $10.2 billion.

Outbound shipments of chips, a mainstay export product, slumped 34.1 percent and those of steel fell 11.2 percent, the data showed.

Exports to China, South Korea's largest trading partner, slipped 24.4 percent, marking the seventh consecutive month of decline. (Yonhap)