South Korea recorded a trade deficit in the first 20 days of September due to sluggish exports

According to the South Korean Customs Service, South Korea’s trade deficit in the first 20 days of September was $4.1 billion due to weak exports. In the same period last year, South Korea had a trade surplus of $1.17 billion.

The persistent trade deficit is the result of weak exports and rising imports driven by soaring energy prices.

Exports fell 8.7% to $32.96 billion in the first 20 days of September. At the same time, imports increased by 6.1% to $37.06 billion.

Due to the South Korean Thanksgiving holiday, exports of steel products, motor vehicles, automotive parts and computers fell by tens of thousands.

Leave a Reply

Change Language
%d bloggers like this: