Seoul: The Republic of Korea’s exports declined by 7.8 percent year-on-year during the first 20 days of October, according to data released on Tuesday. Outbound shipments stood at US$30.1 billion from 1st to 20th October, compared with US$32.7 billion during the same period last year.

According to Emirates News Agency, despite the overall fall, average daily exports rose 9.7 percent on a yearly basis, the data indicated. Imports decreased 2.3 percent year-on-year to $32.9 billion over the cited period, resulting in a trade deficit of $2.8 billion.

In September, exports increased 12.7 percent from a year earlier to $65.95 billion, driven by strong semiconductor demand, reaching a record high for the first time in three and a half years.