November 21, 2019 / 12:18 AM / 17 days ago

S.Korea Nov 1-20 exports drop 9.6% y/y on weak chip sales, Chinese demand

SEOUL, Nov 21 (Reuters) - South Korean exports in the first 20 days of November fell 9.6% from a year earlier, driven by poor chip sales and weak demand from China, customs data showed on Thursday, while imports dropped 11.2%.

Exports during the Nov. 1-20 period contracted less than the 19.7% contraction during the Oct. 1-20 period, the data showed. The country’s trade surplus shrank to $0.60 billion for the Nov. 1-20 period from $1.34 billion in the same period a month ago.

Overseas sales of semiconductor, the nation’s major exporting product, plunged 23.6% in Nov. 1-20 versus a year ago, while exports to its biggest trading partner China fell 8.1%. (Reporting by Choonsik Yoo, Joori Roh)

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