Trade Deficit of $7.67 Billion from August 1-10... Annual Cumulative Deficit Reaches $22.9 Billion (Update)

Reference photo_Pyeongtaek Port container. Photo by Hyunmin Kim kimhyun81@

[Asia Economy Sejong=Reporter Dongwoo Lee] Exports from August 1 to 10 increased by more than 20% compared to the same period last year. However, the trade deficit continued for the fifth consecutive month as imports exceeded exports.

According to the Korea Customs Service on the 11th, the export value (provisional customs clearance basis) from August 1 to 10 was $15.688 billion, up 23.2% from the same period last year.

The number of working days during this period was 8.5 days, one day more than the 7.5 days in the same period last year. The average daily export value increased by 8.7%.

The import value was $23.365 billion, up 34.1% from the same period last year.

Accordingly, the trade balance recorded a deficit of $7.677 billion, which is larger than the $4.685 billion deficit in the same period last year.

The cumulative trade deficit from the beginning of this year to August 10 stands at $22.93 billion.

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