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South Korea’s exports fall by 7.5%

SEJONG -- South Korea’s exports fell 7.5 percent in the first 10 days of January from a year earlier due largely to a sharp decline in shipments of semiconductors and ship

SEJONG -- South Korea’s exports fell 7.5 percent in the first 10 days of January from a year earlier due largely to a sharp decline in shipments of semiconductors and ships, as customs data reported by Yonhap news agency show.

The country’s outbound shipments reached US$12.7 billion in the Jan. 1-10 period, compared with $13.6 billion in the same period of last year, according to the data from the Korea Customs Service. The office said that daily average exports, which reflect working days, also fell 7.5 percent on-year to $1.69 billion in the cited period.

By product, outbound shipments of semiconductors and ships fell 27.2 percent and 29.7 percent, respectively, from a year earlier. On the other hand, exports of passenger cars soared 127.7 percent. But outbound shipments of wireless communication devices rose 23.5 percent.

Exports to the United States and Canada rose 36.6 percent and 99.5 percent, respectively, while shipments to China and Middle Eastern countries fell 15.1 percent and 40 percent, respectively, the data showed.

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