Trade Deficit of $2.4 Billion from September 1-10... Concerns Over Six Consecutive Months of Deficit (Update)

[Asia Economy Sejong=Reporter Dongwoo Lee] Exports from September 1 to 10 decreased by more than 10% compared to the same period last year. Both exports and imports declined due to a reduction in working days caused by the Chuseok holiday.

According to the Korea Customs Service on the 13th, the export value (provisional customs clearance basis) from the 1st to the 10th of this month was $16.246 billion, down 16.6% from the same period last year.

The number of working days during this period was 6.5 days, two days fewer than the 8.5 days in the same period last year. The average daily export value increased by 9.0%.

Imports from the beginning of this month to the 10th amounted to $18.688 billion, a 10.9% decrease compared to one year ago. The average daily import value increased by 16.6%.

The trade balance during this period recorded a deficit of $2.443 billion, which is larger than the deficit of $1.483 billion in the same period last year.

The cumulative trade deficit from the beginning of this year to the 10th of this month stands at $27.551 billion.