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HomeLatestS.Korea's export logs double-digit fall in 1st 10 days of October

S.Korea's export logs double-digit fall in 1st 10 days of October


SEOUL, Oct. 11 (Xinhua) — South Korea’s export logged a double-digit fall in the first 10 days of October on weaker demand for locally-made products, especially semiconductors, customs office data showed Tuesday.

Export, which accounts for about half of the export-driven economy, came to 11.8 billion U.S. dollars in the October 1-10 period, down 20.2 percent compared to the same period of last year, according to Korea Customs Service.

Semiconductor export tumbled 20.6 percent in the cited period, after sliding for the past two months amid growing worries about the global economic slowdown.

Shipment for oil products, steel, mobile devices and auto parts dwindled in double figures in the 10-day period.

Export to the United States, Vietnam and Japan dropped in double digits, but shipment to the European Union (EU) expanded by 11.1 percent.

Import retreated 11.3 percent over the year to 15.62 billion dollars in the first 10 days of October.

Import for crude oil and coal gained 7.6 percent and 10.4 percent each, but those for natural gas and oil products declined 16.1 percent and 14.3 percent respectively.

The trade deficit amounted to 3.82 billion dollars in the 10-day period. The trade balance stayed in red for six successive months through September.