exports-April

▲ Containers are being unloaded at a port in the southeastern city of Busan, in this file photo taken April 2, 2023. (Yonhap)

exports-April

Exports down 11 pct during first 20 days of April

SEOUL, April 21 (Yonhap) -- South Korea's exports fell 11 percent on-year in the first 20 days of April, data showed Friday, amid the prolonged slump in the global chip industry.

The country's outbound shipments stood at US$32.4 billion in the April 1-20 period, compared with $36.3 billion a year earlier, according to the data from the Korea Customs Service.

Imports shed 11.8 percent on-year to $36.5 billion during the cited period, resulting in a trade deficit of $4.13 billion.

In March, outbound shipments fell 13.6 percent on-year to $55.12 billion.

Exports have logged an on-year fall since October last year amid aggressive monetary tightening by major economies to curb inflation. It is also the first time since 2020 that exports have declined for six months in a row.


(END)

[Copyright ⓒ K-VIBE. All rights reserved. Unauthorized reproduction and redistribution are prohibited.]