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S. Korea's Exports Fall 3.6% in October

Written: 2020-11-01 13:12:56Updated: 2020-11-01 13:44:12

S. Korea's Exports Fall 3.6% in October

Photo : YONHAP News

South Korea's exports declined again in October after a brief rebound in the previous month.

According to data from the Ministry of Trade, Industry and Energy on Sunday, the country's outbound shipments came to 44-point-nine billion U.S. dollars last month, down three-point-six percent from a year earlier.

The decline came after the country's exports grew seven-point-six percent on-year in September to mark the first growth since March.

The latest decline is attributed to fewer working days in the month from a year earlier. Given the decrease, daily exports increased five-point-six percent last month, posting positive growth for the first time in nine months.

Shipments of seven of the nation's 15 major export items, such as semiconductors, autos and displays, posted positive growth.

Exports to the United States and the European Union increased by three-point-three percent and nine-point-five percent, respectively, while shipments to China slipped five-point-seven percent on-year.

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