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South Korea’s Exports Fell by 12.6% at the Beginning of February

The South Korean Customs Service (KCS) said today that South Korean exports fell 12.6% year-on-year to $15.7 billion in the first 10 days of February.

Semiconductor exports, however, rose 7.4% year over year in the first 10 days of February.

Exports of petroleum products, computers and peripherals grew at double-digit rates.


Export sales of motor vehicles, motor vehicle parts, and mobile equipment fell by a double-digit percentage during this period.

Exports to China, South Korea’s largest trading partner, fell 3% in the first ten days, while exports to the United States fell 17.3% and to the European Union (EU) 33.5%.

Imports fell 6.6% year-on-year to $19.2 billion in the first 10 days of February, widening South Korea’s trade deficit to $3.5 billion.

Crude oil imports increased by 11.8%, while natural gas imports decreased by 33.9% and machinery imports by 11.1%.

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