South Korea’s exports in the first 20 days of August declined 13.3 percent from the same period a year ago, suggesting the losing streak in exports extending to the ninth month.

The nation’s outbound shipments reached $24.95 billion from August 1 to 20, down 13.3 percent against the previous year, according to data released by the Korea Customs Service on Wednesday.

The pace accelerated from the fall of 11.0 percent in July after nearing double digit from June, but eased from 22.1 percent dip in the first 10 days of August.

Imports slipped 2.4 percent on year to $26.73 billion, delivering a trade deficit of $1.79 billion in the first 20 days of August.

Exports to Japan tumbled 13.1 percent and imports also lost 8.3 percent over the period, affected by the worsened sentiment between the two economies since Japan from July 4 has restricted three chemical exports to Korea necessary for chip and display production.

Imports from the Middle East dropped 6.6 percent from a year ago, the U.S. 3.6 percent and China 1.2 percent, while imports from Australia jumped 22.7 percent and Vietnam 15.3 percent.

Shipments to the country’s major trading partner slowed down compared to the previous year, with exports to China down 20 percent and the U.S. 8.7 percent. Exports to Singapore, on the other hand, surged 47.8 percent and to Vietnam rose 8.7 percent.

Semiconductor exports shrank 29.9 percent on year amid protracted industry slowdown, and shipments of petroleum products also tumbled 20.7 percent and auto parts 1.6 percent. Exports of wireless telecom devices jumped 41.6 percent and home appliances 25.6 percent.

By Kim Yeon-joo and Choi Mira

[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]