Export Up 24% from May 1-20... Trade Deficit at 4.8 Billion USD

Korea Customs Service 'Export and Import Status from May 1 to 20'

[Asia Economy Sejong=Reporter Dongwoo Lee] From January 1 to May 20 this year, the trade deficit exceeded 10 billion dollars.

According to the Korea Customs Service on the 23rd, exports (provisional customs clearance basis) from the 1st to the 20th of this month amounted to 38.617 billion dollars. This is a 24.1% increase compared to the same period last year.

The average daily export growth rate, considering the number of working days, is 7.6%. During this period, the number of working days was 15, two days more than the same period last year.

On the other hand, imports during the same period increased by 37.8% to 43.444 billion dollars.

Accordingly, the trade balance showed a deficit of 4.827 billion dollars. This deficit is more than 10 times larger than the deficit of 425 million dollars during the same period last year.

The cumulative trade deficit up to the 20th of this month this year reached 10.964 billion dollars.

This content was produced with the assistance of AI translation services.