(LEAD) exports-June

▲ Containers for exports and imports are stacked at a pier in South Korea's largest port city of Busan, in this May 22, 2023, file photo. (Yonhap)

(LEAD) exports-June

(LEAD) Exports up 1.2 pct during first 10 days of June on more working days

(ATTN: RECASTS headline; UPDATES with details throughout)

By Kang Yoon-seung

SEOUL, June 12 (Yonhap) -- South Korea's exports moved up 1.2 percent on-year in the first 10 days of June due to a greater number of working days, data showed Monday, although overseas sales of semiconductors continued to remain sluggish.

The country's outbound shipments reached US$15.3 billion in the June 1-10 period, compared with $15 billion tallied a year earlier, according to the data from the Korea Customs Service.

The number of working days over the period came to seven, up from the previous year's 6.5. In terms of daily average, South Korea's export volume dropped 6 percent on-year.

An official from the agency noted the 10-day tally may not represent the export trend accurately as it is strongly influenced by the number of working days.

Imports fell 20.7 percent on-year to $16.7 billion during the period, resulting in a trade deficit of $1.4 billion.

By sector, outbound shipments of semiconductors, the key engine of Asia's No. 4 economy, reached US$2.18 billion over the first 10 days, down 31.1 percent from a year earlier.

Exports of automobiles, on the other hand, more than doubled to $1.47 billion.

Overseas sales of petroleum and steel products lost 35.8 percent and 7.6 percent, respectively, over the period, the data also showed.

By destination, exports to China, the country's top trading partner, fell 10.9 percent to $3.26 billion. Those to the United States, on the other hand, rose 6.9 percent to $2.57 billion.

Exports to the European Union and Vietnam increased 26.9 percent and 0.1 percent, respectively.

In May, South Korea's overall exports fell for the eighth consecutive month, plunging 15.2 percent on-year to $52.24 billion. The decline came as exports of semiconductors sank 36.2 percent on falling global demand.


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