Korea logs trade deficit in Aug. 1-20: customs data
Korea has posted a trade deficit in the first 20 days of this month as the slowing global economic growth is hurting the country's exports, customs data showed Tuesday.
South Korea exported $22.51 billion worth of goods from Aug. 1 to Monday, while its imports came to $26.99 billion during the 20-day period, according to the data by the Korea Customs Service.
As a result, the country logged a trade deficit of $4.48 billion.
Market observers said without a substantial hike in exports during the rest of this month, South Korea could register a trade deficit in August, the first shortfall in seven months.
Even if the figure ends up in black, the surplus is expected to be much lower than the trade surplus of $2.76 billion tallied in July, they said.
Korea's exports have been hard-hit by sluggish demand from the global markets struggling with the eurozone debt crisis and concerns over worldwide economic slowdowns.
In July, the country's exports fell 8.8 percent from a year earlier, the sharpest decline since September 2009, according to government data. (Yonhap)