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South Korea exports jump 28.7% for first 10 days of May, trade deficit at US$3.72 billion

South Korea exports jump 28.7% for first 10 days of May, trade deficit at US$3.72 billion

A truck carrying a shipping container travels past cranes at Pyeongtaek port in Pyeongtaek, South Korea, Jul 9, 2020. (Photo: REUTERS/Kim Hong-Ji)

SEOUL: South Korea's exports for the first 10 days of May jumped 28.7 per cent from the same period a year earlier, customs agency data showed on Wednesday (May 11).

The country's imports grew at a faster pace of 34.7 per cent, bringing the trade balance to a US$3.72 billion deficit for the period.

Exports of semiconductors expanded 10.8 per cent and petroleum products surged 256.3 per cent.

Shipments to China expanded 9.6 per cent, while those to the United States and European Union increased 30.1 per cent and 27.1 per cent, respectively.

Exports grew 8.9 per cent on average per working day.

 

 

Source: Reuters/ic

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