[Breaking News] July Exports Down 7.0%... "Recovering from the Corona Shock"

[Asia Economy Reporter Kim Bo-kyung] According to the Ministry of Trade, Industry and Energy on the 1st, exports in July recorded $42.83 billion, a 7.0% decrease compared to the same month last year.

This marks the first time since April, when the impact of the novel coronavirus disease (COVID-19) was felt, that the decline in exports narrowed to a single digit.

The export scale also recovered to the $40 billion level for the first time in four months, and the daily average export amount, which had remained in the $1.6 billion range for four months, exceeded $1.7 billion last month.

Imports last month decreased by 11.9% to $38.56 billion. As a result, the trade balance recorded a surplus of $4.27 billion.

This content was produced with the assistance of AI translation services.