Exports fall 0.2 percent in June compared to 2017

Korea’s exports fell 0.2 percent in June when compared to a year earlier, largely thanks to the base effect, the customs office said Monday.

The country’s outbound shipments were tallied at $51.19 billion in June, compared with $51.17 billion a year earlier, according to the Korea Customs Service.

Imports rose 10.8 percent over the cited period to $44.94 billion, resulting in a trade surplus of $624 million, it added.

Chip exports surged 37.3 percent in June from a year earlier, providing a big boost to last month’s export growth.

Shipments of petrochemical goods advanced 71.1 percent, but those for automobiles and ships dropped 9.3 percent and 83.2 percent, respectively.

Shipments to China, Korea’s biggest trading partner, increased by 29.7 percent last month, and those to the United States, the second-largest overseas market for locally made goods, rose 7.6 percent. Exports to Vietnam sank by 8.7 percent over the cited period, the office said.

Yonhap