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S. Korea's Exports Drop 12.8% in First 20 Days of July

Written: 2020-07-21 09:51:39Updated: 2020-07-21 11:29:28

S. Korea's Exports Drop 12.8% in First 20 Days of July

Photo : YONHAP News

South Korea's exports dropped nearly 13 percent from a year earlier in the first 20 days of July amid the economic fallout from the COVID-19 pandemic.

According to data from the Korea Customs Service on Tuesday, the nation's outbound shipments stood at 24-point-six billion U.S. dollars in the cited period, down 12-point-eight percent on-year.

Compared with the same period last year, there was one less working day this year. Given the decrease, the daily average exports during the period declined seven-point-one percent.

The country witnessed drops in most of its major export items as shipments of petroleum products plunged 41-point-six percent, while autos and semiconductors dipped 14 percent and one-point-seven percent, respectively.

Shipments to China and the United States fell point-eight percent and two-point-four percent, each, while exports to the Middle East and Japan plunged 40 percent and nearly 22 percent, respectively.

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