South Korea's semiconductor exports plummeted by 28% in the first 10 days of September
According to Yonhap News Agency, according to statistics from the Korea Customs Service on September 11th, the export value from September 1st to 10th was 14.86 billion US dollars, a decrease of 7.9% compared to the same period last year; The annual decrease in import volume was 11.3% to $16.5 billion, resulting in a trade deficit of $1.64 billion.
According to product categories, the export volume of South Korean semiconductors in the first 10 days of September decreased by 28.2% compared to the same period last year to $2.5 billion, reflecting that global chip demand is still in a sluggish state. It is reported that semiconductors account for about 20% of the country's total exports, and as of August this year, South Korea's semiconductor exports have been declining for 13 consecutive months.
In addition, exports of petroleum products (-14.0%), automotive components (-15.1%), precision equipment (-16.6%), and computer peripherals (-46.5%) have also decreased.
By country/region, South Korea's exports to its largest trading partner, China, decreased significantly by 17.7% to $3.39 billion in the first 10 days of September; Exports to the United States increased slightly by 2.3% to $2.5 billion; The export volume to Vietnam decreased by 1.2% to 1.4 billion US dollars.
In terms of imports, South Korea's annual import volume decreased by 11.3% to $16.5 billion in the first 10 days of September, with crude oil (-10.2%), natural gas (-55.7%), coal (-45.2%), semiconductors (-13.5%), and passenger cars (-7.3%) all decreasing.
In addition, exports of petroleum products (-14.0%), automotive components (-15.1%), precision equipment (-16.6%), and computer peripherals (-46.5%) have also decreased.
By country/region, South Korea's exports to its largest trading partner, China, decreased significantly by 17.7% to $3.39 billion in the first 10 days of September; Exports to the United States increased slightly by 2.3% to $2.5 billion; The export volume to Vietnam decreased by 1.2% to 1.4 billion US dollars.
In terms of imports, South Korea's annual import volume decreased by 11.3% to $16.5 billion in the first 10 days of September, with crude oil (-10.2%), natural gas (-55.7%), coal (-45.2%), semiconductors (-13.5%), and passenger cars (-7.3%) all decreasing.