September’s energy import cuts and a struggling automobile sector raise concerns over long-term economic sustainability
South Korea recorded an $800 million trade surplus in the first 20 days of September, according to data released by the Korea Customs Service on Monday. Exports for the period totaled $35.6 billion, down 1.1% year-on-year, while imports fell 4.5% to $34.8 billion. Key export drivers included semiconductors, which rose 26.2%, and computer peripherals, up 75.6%. However, automobile and petroleum product exports declined by 8.8% and 5%, respectively.
Imports from key trading partners such as China and the U.S. also fell, with a notable 14.8% drop in crude oil imports.
South Korea recorded an $800 million trade surplus in the first 20 days of September, according to data released by the Korea Customs Service on Monday. Exports for the period totaled $35.6 billion, down 1.1% year-on-year, while imports fell 4.5% to $34.8 billion. Key export drivers included semiconductors, which rose 26.2%, and computer peripherals, up 75.6%. However, automobile and petroleum product exports declined by 8.8% and 5%, respectively.
Imports from key trading partners such as China and the U.S. also fell, with a notable 14.8% drop in crude oil imports.
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