South Korea’s exports from Aug 1-20 increase 3.9% y-o-y, trade deficit hits $10.22 bln

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SEOUL — South Korea’s exports for the first 20 days of August rose 3.9 percent from the same period a year earlier, data from the customs agency showed Monday.

The country’s imports grew at a much faster rate of 22.1%, bringing the trade balance to a deficit of $10.22 billion.

By destination, shipments to the United States increased by 0.8% and the European Union jumped by 19.8%, while those to China fell by 11.2%.

Semiconductor exports fell 7.5%, petroleum products jumped 109.3% and cars rose 22.0%.

Exports increased by 0.5% on average per working day.

Full data for the month will be released on September 1. (Reporting by Jihoon Lee; Editing by Kim Coghill)