Exports rose by more than 16 percent on-year in the first ten days of August.

According to preliminary data from the Korea Customs Service on Monday, the country’s outbound shipments reached over 15-point-five billion U.S. dollars during the cited period, up 16-point-seven percent from a year earlier.

Average daily exports increased by 24 percent, despite the number of working days decreasing by half a day from a year ago to eight days.  

Exports of semiconductors and automobiles jumped 42-point-one percent and 63-point-nine percent, respectively, while shipments of precision equipment decreased over ten percent.

Exports to China grew more than ten percent, while shipments to the United States and the European Union increased 27-point-seven percent and 18-point-two percent, respectively.

Imports rose 13-point-four percent on-year to 18-point-four billion dollars during the period, resulting in a trade deficit of 293 million dollars.