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[THE INVESTOR] South Korea’s exports tumbled 18.2 percent in the first 10 days of October, compared to last year, the latest customs data showed on Oct. 11.
The country’s exports totaled US$9.47 billion from Oct. 1-10, down from $11.58 billion tallied over the same period last year, according to the Korea Customs Service.
Exports of semiconductors fell 5.9 percent on-year, and those of wireless devices plunged 31.2 percent over the 10-day period, while shipments of cars and auto parts dived 51.9 percent and 20.3 percent, respectively.
The on-going partial strikes at major automakers, including industry leader Hyundai Motor, and the worldwide recall of Samsung Electronics’ Galaxy Note 7 played a role in the sharp drop in exports.
South Korea’s exports rose 2.6 percent in August for the first time in 20 months, snapping the record-long losing streak that started in January 2015, but they relapsed into negative terrain in September to mark a 5.9 percent fall.
(theinvestor@heraldcorp.com)
The country’s exports totaled US$9.47 billion from Oct. 1-10, down from $11.58 billion tallied over the same period last year, according to the Korea Customs Service.
Exports of semiconductors fell 5.9 percent on-year, and those of wireless devices plunged 31.2 percent over the 10-day period, while shipments of cars and auto parts dived 51.9 percent and 20.3 percent, respectively.
The on-going partial strikes at major automakers, including industry leader Hyundai Motor, and the worldwide recall of Samsung Electronics’ Galaxy Note 7 played a role in the sharp drop in exports.
South Korea’s exports rose 2.6 percent in August for the first time in 20 months, snapping the record-long losing streak that started in January 2015, but they relapsed into negative terrain in September to mark a 5.9 percent fall.
(theinvestor@heraldcorp.com)
