Exports Up 3.9% from August 1-20... Trade Deficit at $10.2 Billion (Update)

Reference photo_Pyeongtaek Port container. Photo by Hyunmin Kim kimhyun81@

[Asia Economy Sejong=Reporter Dongwoo Lee] Exports from August 1 to 20 increased by about 4% 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 22nd, the export value (provisional customs clearance basis) from the 1st to the 20th of this month was $33.424 billion, a 3.9% increase compared to the same period last year.

During this period, the number of working days was 15.5, 0.5 days more than the 15 days in the same period last year. The average daily export value increased by 0.5%.

The import value was $43.641 billion, a 22.1% increase compared to the same period last year.

Accordingly, the trade balance recorded a deficit of $10.217 billion, about three times larger than the deficit of -$3.579 billion in the same period last year. The deficit increased by $2.54 billion from the $7.677 billion deficit recorded from August 1 to 10.

The cumulative trade deficit up to the 20th of this month this year is $25.47 billion.

During the same period, the trade deficit with China was $667 million, continuing for the fourth consecutive month.

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