South Korea’s exports in the first 10 days in October fell 8.5 percent on year amid protracted slump in global chip demand, suggesting the losing streak to stretch into 11th month.

According to data released by the Korea Customs Service on Friday, the country’s exports totaled $13.1 billion in the Oct. 1-10 period, down 8.5 percent from a year-ago period.

Korean exports have skidding since December.

Daily exports averaged $2.02 billion, falling 8.5 percent from the previous year, based on the same working days.

From Oct. 1 to 10, semiconductor exports shrank 27.2 percent on year. Exports of petroleum products shriveled 19.5 percent and vessels 23.8 percent. But deliveries of automobiles surged 15.9 percent, wireless communications devices 52.8 percent, and white goods 19.4 percent.

By country, exports to China tumbled 15.7 percent, the U.S. 13.1 percent, the European Union 11.7 percent, and Taiwan 39.9 percent. Shipments to Japan, however, added 8.2 percent despite ongoing trade disputes between Seoul and Tokyo following Tokyo’s export restrictions on Seoul. Exports to Vietnam added 10.5 percent, and the Middle East 33.2 percent.

Imports in the first 10 days of October came at $13.8 billion, also down 15.2 percent on year, to deliver a trade deficit of $645 million.

Automobile imports leaped 57.8 percent on year, and information communications devices 9.1 percent, while inbound shipments of crude oil contracted 22 percent, gas 18.2 percent, machinery 18.8 percent, and petroleum products 31.8 percent.

Imports from Japan declined 23.8 percent, China 8.6 percent, the Middle East 14.4 percent, the U.S. 22.4 percent, and the European Union 15.2 percent over the cited period. Deliveries from Canada expanded 37.6 percent.

By Lee Yu-sup and Lee Ha-yeon

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