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South Korea Sees Decline in July Exports
(MENAFN) South Korea's exports declined in the first 20 days of July, driven largely by reduced demand from key trading partners such as the United States and Japan, according to official customs data released Monday.
The Korea Customs Service reported that outbound shipments dropped by 2.2 percent year-on-year, totaling 36.07 billion U.S. dollars between July 1 and July 20.
During this period, exports to the United States fell by 2.1 percent, while shipments to Japan saw a sharper drop of 5.8 percent. In contrast, South Korean exports to other major markets—specifically the European Union, Vietnam, and India—recorded modest gains, rising by single-digit percentages.
This early data signals potential challenges for South Korea's trade sector, which remains heavily influenced by global economic trends and shifts in foreign demand.
The Korea Customs Service reported that outbound shipments dropped by 2.2 percent year-on-year, totaling 36.07 billion U.S. dollars between July 1 and July 20.
During this period, exports to the United States fell by 2.1 percent, while shipments to Japan saw a sharper drop of 5.8 percent. In contrast, South Korean exports to other major markets—specifically the European Union, Vietnam, and India—recorded modest gains, rising by single-digit percentages.
This early data signals potential challenges for South Korea's trade sector, which remains heavily influenced by global economic trends and shifts in foreign demand.
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