South Korea Nov 1-20 exports tumble on weak demand for chips, China woes
Reuters
Published Nov 20, 2022 07:20PM ET
SEOUL (Reuters) - South Korea's exports for the first 20 days of November shrank 16.7% from the same period a year ago, dragged down by weak demand for chips and from China, customs agency data showed on Monday.
The country's imports fell 5.5%, bringing the trade balance to a $4.42 billion deficit, on track for an eighth straight month in the red.
Shipments to China dropped 28.3%, while those to the United States and European Union were up 11.0% and down 1.5%, respectively.
By product, sales of semiconductors fell 29.4% and wireless communication devices lost 20.6%, but those of cars and petroleum products gained 28.6% and 16.1% each.
Exports shrank 11.3% on average per working day.
Full Monthly trade data will be available on Dec. 1.
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Written By: Reuters
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