Exports decline 12.8 percent in first 20 days of July

Korea's exports dropped 12.8 percent on year in the first 20 days of July amid the economic fallout from the new coronavirus, customs data showed Tuesday.

The nation's outbound shipments stood at $24.6 billion in the July 1 to July 20 period, according to the data from the Korea Customs Service.

The daily average exports during the 20-day period declined 7.1 percent.

The coronavirus pandemic has disrupted trade and halted production around the globe, with a rising number of countries fully closing their borders.

By segment, exports of memory chips, a key item, fell 1.7 percent, and those of automobiles declined 14 percent over the 20-day period from a year earlier.

By country, shipments to China fell 0.8 percent on year and shipments to the United States declined 2.4 percent

Yonhap