Economic Indicators

S.Korea June 1-10 exports shrink 12.7%, trade deficit at $6 billion


FILE PHOTO: A truck moves a shipping container at Pyeongtaek port in Pyeongtaek, South Korea, July 9, 2020. REUTERS/Kim Hong-Ji/File Photo

SEOUL (Reuters) — South Korea’s exports for the first 10 days of June shrank 12.7% from the same period a year before, customs agency data showed on Monday.

The country’s imports grew 17.5%, however, bringing the trade balance to a $6 billion deficit for the period.

By product, exports of semiconductors grew 0.8% and petroleum products surged 94.5%, but those of cars, automobile parts and wireless communication devices fell 35.6%, 28.8% and 27.5%, respectively.

By destination, shipments to China, the United States and European Union shrank 16.2%, 9.7% and 23.3% each.

Source

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