SEOUL, South Korea’s exports fell 4.7 percent during the first 10 days of June, data showed Tuesday, due to the fewer number of working days and sluggish shipments of automobiles.

Outbound shipments reached US$14.6 billion in the June 1-10 period, compared with $15.2 billion tallied a year earlier, according to the data from the Korea Customs Service.

Imports fell 7.4 percent on-year to $15.4 billion during the period, resulting in a trade deficit of $800 million.

The customs agency attributed the decline to the number of working days, which came to six over the period, compared with seven posted a year earlier.

The daily average export volume rose 11.2 percent on-year, it added.

By sector, exports of semiconductors advanced 36.6 percent to $2.97 billion, with those of petroleum products gaining 9.3 percent to $1.36 billion.

Outbound shipments of automobiles, on the other hand, lost 18.9 percent to $1.2 billion. Exports of steel products also plunged 12 percent to $981 million, the data showed.

By des
tination, exports to China moved down 8.5 percent over the period to $2.97 billion, while those to the United States jumped 10.2 percent to $2.8 billion.

Exports to Vietnam gained 11.3 percent to $1.53 billion, while those to the European Union slid 19.4 percent to $1.3 billion

South Korea’s exports extended on-year gains to the eighth straight month in May on the back of strong shipments of semiconductors, rising 11.7 percent on-year to $58.1 billion.

Source: Yonhap News Agency