SEOUL, Feb 11 (NNN-YONHAP) – South Korea’s export logged a double-digit fall, in the first 10 days of this month, due to less business days, customs office data showed today.
Export, which takes up about half of the country’s export-driven economy, amounted to 15.7 billion U.S. dollars in the Feb 1-10 period, down 12.6 percent compared to the same period last year, according to Korea Customs Service.
It was attributed to less business days due to holidays. The number of working days was 6.5 in the 10-day period, down by two from a year earlier.
The daily average export, adjusted for working days, advanced 14.2 percent in the first 10 days.
Semiconductor export rose 7.4 percent in the 10-day period, year on year, and the export of oil products, computers and peripherals increased in double figures.
Export of cars, auto parts and mobile devices posted a double-digit reduction in the period.
Shipment to China, South Korea’s biggest trading partner, shrank three percent, and those to the U.S. and the European Union (EU) dropped 17.3 percent and 33.5 percent, respectively.
Import fell 6.6 percent over the year to 19.2 billion U.S. dollars, in the first 10 days of Feb, sending the trade deficit to 3.5 billion U.S. dollars.
Crude oil import increased 11.8 percent, but the import of natural gas and machinery diminished 33.9 percent and 11.1 percent, respectively, in the 10-day period.– NNN-YONHAP
