Exports in the 1st–10th of this month fell 2.3% from the same period a year earlier. However, average daily exports, adjusted for working days, rose 4.7%.
The Korea Customs Service said on the 11th that exports from Jan. 1–10 totaled $15.6 billion, down 2.3% ($370 million) from a year earlier.
By item, semiconductor exports jumped 45.6%, driving overall export growth. Semiconductors' share of total exports also rose 9.8 percentage points (p) to 29.8%. Petroleum products (13.2%) and wireless communication devices (33.7%) increased, while passenger cars (-24.7%) and ships (-12.7%) declined.
By country, exports to China (15.4%), Vietnam (5.0%), and Taiwan (55.4%) increased. In contrast, exports to the United States and the European Union (EU) fell 14.7% and 31.7%, respectively.
Meanwhile, imports in the same period fell 4.5% from a year earlier. Imports of semiconductors (-7.4%), gas (-42.0%), and machinery (-3.9%) decreased. The trade balance posted a $2.7 billion deficit.