Economy News

S.Korea's export falls 15.4 pct in 1st 10 days of January

South Korea's export posted a double-digit fall in the first 10 days of January due mainly to fewer business days, customs office data showed Monday.

Export, which takes up about half of the Asian country's export-driven economy, amounted to 11.2 billion U.S. dollars in the Jan. 1-10 period, down 15.4 percent from the same period of last year, according to Korea Customs Service.

The daily average export gained 5.8 percent in the cited period. The number of working days was six in the period, down 1.5 days from a year earlier.

The country's outbound shipment rebounded 4.0 percent in November, before recording a double-digit increase in December amid a partial recovery in global demand.

Export for oil products and precision machinery declined in double figures in the 10-day period, but shipment for telecommunication devices such as smartphone advanced in double digits. Semiconductor export inched down 0.3 percent.

Export to Japan, the Middle East and Vietnam logged a double-digit reduction, but those to China and the United States, South Korea's top two trading partners, slipped 5.6 percent and 3.8 percent respectively.

Import dipped 22.9 percent to 11.8 billion dollars, sending the trade deficit to 0.6 billion dollars in the first 10 days of this month. 

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