Exports fall 2.7% during first 20 days of January

Containers at a port in Busan, 325 kilometers southeast of Seoul, are seen in this Jan. 10 file photo. Yonhap

Korea's exports fell 2.7 percent year-on-year in the first 20 days of January, data showed Saturday, due mainly to a weak semiconductor performance.

Outbound shipments stood at $33.6 billion over the period, compared with $34.5 billion in 2022, according to the data from the Korea Customs Service.

Imports rose 9.3 percent to $43.8 billion from Jan. 1 to 20, resulting in a trade deficit of $10.2 billion.

Exports of chips, a mainstay export product, slumped 34.1 percent while those of steel fell 11.2 percent.

Shipments to China, Korea's largest trading partner, slipped 24.4 percent, marking the seventh consecutive monthly decline. (Yonhap)