SEOUL, Feb 13 (NNN-YONHAP) – South Korea logged trade deficit for the first 10 days of Feb, due to a faster increase in import than export, customs office data showed, today.
Trade deficit amounted to 4.97 billion U.S. dollars, during the Feb 1-10 period, up from a deficit of 3.57 billion dollars tallied in the same period last year, said Korea Customs Service.
The trade balance stayed in red for the 11th consecutive month through Jan, when the trade deficit hit a record monthly high of 12.69 billion dollars.
Export grew 11.9 percent to 17.62 billion dollars in the 10-day period, while import expanded 16.9 percent to 22.59 billion dollars.
The daily average export tumbled 14.5 percent in the cited period. The outbound shipment kept a downward trend for the fourth successive month through Jan.
Semiconductor export dropped 40.7 percent, and those for mobile devices and home appliances shrank 8.3 percent and 32.9 percent, respectively.
The shipment of chips, the country’s major export item, continued to decline for the sixth straight month through Jan.
Automotive export more than doubled in the 10-day period, and those for steel and oil products gained 9.8 percent and 28.8 percent each.
Import of the country’s three major energy sources, including crude oil, natural gas and coal, came in at 6.64 billion dollars, for the first 10 days of Feb, up 59.4 percent compared to the same period of last year.
Chip import rose 3.4 percent, but those for semiconductor equipment and precision machinery reduced 19.1 percent and 8.7 percent each.– NNN-YONHAP
