South Korean Customs: Exports from South Korea decreased by 10.1% year-on-year in the first 10 days of May

On May 11th, preliminary statistical data released by the South Korean Customs Agency on the 11th showed that South Korea’s exports decreased by 10.1% year-on-year in the first 10 days of May, to $14.485 billion, with exports decreasing for more than 7 consecutive months. According to the export category, the main category of semiconductors shrank by 29.4% year-on-year, and as of last month, it had been declining for 9 consecutive months year-on-year. Petroleum products (-40.1%), precision instruments (-10.1%), steel products (-3.8%), and ships (-49.3%) have also decreased. Passenger cars (125.8%) and automotive components (7.8%) have an equal increase. In the first 10 days of this month, there was a trade deficit of 4.169 billion US dollars, with the scale of the deficit expanding month on month (3.884 billion US dollars). This is a trade deficit that continued for another 14 months after January 1995 to May 1997. Since the beginning of this year, the trade deficit has accumulated to 29.412 billion US dollars, equivalent to 62% of last year’s total (47.8 billion US dollars). (Korean Associated Press) (Jinshi Data APP)