South Korea Posts Modest Gain in Exports
(MENAFN) South Korea's exports saw a single-digit percentage increase in early September, a rise attributed to a higher number of business days, according to data released Thursday by the Korea Customs Service.
During the initial 10 days of September, exports totaled $19.17 billion, a 3.8% increase compared to the same period the previous year. However, this growth was counterbalanced by a drop in the daily average of exports, which fell 8.4% to $2.26 billion over the 10-day span. The Korea Customs Service indicated that the primary reason for the overall rise was due to a single additional working day within the period.
Sector performance was mixed. Semiconductor exports experienced a significant 28.4% jump, reaching $4.46 billion. Similarly, ship exports soared 55.3% to $900 million. In contrast, automotive shipments declined 1.9% to $1.55 billion, while exports of steel and oil products shrank to $1.24 billion and $1.17 billion, respectively.
Meanwhile, imports surged 11.1% year-on-year to $20.39 billion during the same period, leading to a trade deficit of $1.22 billion. Imports of key commodities and products, including natural gas, coal, oil products, machinery, semiconductor equipment, precision machinery, mobile devices, and cars, all saw double-digit increases.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
