Exports drop 16.1 percent during first 20 days of May

Home > Business > Economy

print dictionary print

Exports drop 16.1 percent during first 20 days of May

Containers for export are stacked at a pier in Busan on May 10. [YONHAP]

Containers for export are stacked at a pier in Busan on May 10. [YONHAP]

 
Korea's outbound shipments in the first 20 days of May fell 16.1 percent on year, dragged by a prolonged global chip slump. 
 
The country's exports stood at $32.4 billion between May 1 and May 20, compared with $38.6 billion a year earlier, according to the data from the Korea Customs Service.
 
Imports shed 15.3 percent on year to $36.7 billion during the cited period, resulting in a trade deficit of $4.3 billion.
 
In April, Korea's overall exports fell 14.2 percent on year to $49.6 billion.
 
Exports have logged an on-year fall since October last year amid aggressive monetary tightening by major economies to curb inflation. It was also the first time since 2020 that exports have declined for seven months in a row.

BY SOHN DONG-JOO, YONHAP [sohn.dongjoo@joongang.co.kr]
Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
s
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)