Containers stacked at Sin Gamman, Gamman, and Sinseondae ports.
By January 20, exports had decreased by 5.1%, resulting in a trade deficit of 3.8 billion dollars. This is attributed to a reduction in the number of working days. The average daily exports, taking into account the number of working days, rose by 1.4%.
According to the “Export and Import Status from January 1 to 20” published by the Korea Customs Service on the 21st, the export value for this period was estimated at 31.6 billion dollars. This represents a more than 5% decline compared to last year’s 33.3 billion dollars.
However, this decline is influenced by the number of working days. This year, there are 14.5 working days, one day less than last year’s 15.5 days.
The trade deficit has increased compared to last year’s 2.7 billion dollars by approximately 1 billion dollars.
Exports of semiconductors rose significantly by 19.2%. However, there were decreases in passenger cars (-7.3%), petroleum products (-29.9%), and auto parts (-10.1%).
Looking at specific countries, exports to China (-4.9%), the United States (-9.6%), and the European Union (-4.0%), which are the top three trade partners, all declined. In contrast, exports to Vietnam increased by 13.9% and to Taiwan by 13.5%.
Reporter Minwoo Lee in Sejong mw38@dt.co.kr