Seoul: The Republic of Korea’s exports decreased by 4.3 percent from the same period last year during the first 10 days of August. This reduction is attributed partly to declining shipments to the United States amid rising trade tariffs.
According to Emirates News Agency, outbound shipments amounted to US$14.7 billion from August 1 to 10, compared to $15.4 billion in the same period the previous year, based on data from the Korea Customs Service. Imports also saw a decline of 13.6 percent on-year, totaling $15.9 billion, which resulted in a trade deficit of $1.2 billion for this timeframe.
Despite the overall decline in exports, the daily average volume of exports showed an increase of 9.3 percent during the specified period.