S.Korea's export falls 2.6 pct for 10 days of July

Source: Xinhua| 2019-07-11 09:35:12|Editor: Li Xia
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SEOUL, July 11 (Xinhua) -- South Korea's export fell for the first 10 days of this month on the continued downturn in business cycle of the global semiconductor industry, customs office data showed Thursday.

Export, which accounts for about half of the export-driven economy, reached 13.6 billion U.S. dollars in the July 1-10 period, down 2.6 percent from the same period of last year, according to Korea Customs Service.

The daily average export tumbled 14 percent in the cited period. The outbound shipment continued to decline for the seventh consecutive month through June.

For the first 10 days of this month, the semiconductor shipment plunged 25 percent, leading the overall export fall amid the prolonged downturn of the global chip industry.

The shipments of oil product and ship diminished in the 10-day period, but those for automobile, home appliances and telecommunication devices, including smartphone, advanced in the period.

Export to China, South Korea's biggest trading partner, shrank 13.2 percent, with those to the European Union and the Middle East posting a double-digit reduction.

Shipments to the United States, Vietnam and Japan expanded by a double digit in the cited period.

Import grew 4 percent over the year to 15.5 billion U.S. dollars in the July 1-10 period, sending the trade deficit to 1.9 billion U.S. dollars.