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Biz News Korea(Eng)

Korea’s exports down 14.6% in Feb. 1-10 due to fewer working days

Collected: 2024.02.13

Distributed: 2024.02.14

Source: Go Direct

[Photo by Yonhap]

South Korean exports fell more than 10 percent in the first 10 days of February from a year ago due to fewer working days.

According to data released by the Korea Customs Service on Tuesday, the country’s outbound shipments stood at $15.01 billion between February 1 and 10, down 14.6 percent from the same period a year ago.

Daily exports, which take the number of working days into account, rose 11.7 percent during the same period. There were 6.5 business days, two days less than last year.

Monthly exports have been on the rise for four straight months since October 2023.

Imports for the first 10 days of February fell 24.6 percent to $17.01 billion, resulting in a trade deficit of $2 billion. The deficit was $3 billion during the same period in January.

The monthly trade balance has been in surplus for eight consecutive months until January.

By Pulse

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