Seoul: South Korea’s exports dropped by 2.9 percent in the first 20 days of October, signaling a downturn after a series of monthly gains, according to recent data.
According to Yonhap News Agency, the Korea Customs Service reported that outbound shipments totaled $32.77 billion in the period from October 1 to 20, a decrease from the $33.74 billion recorded during the same period last year. Meanwhile, imports also fell significantly by 10.1 percent to $33.76 billion, leading to a trade surplus of $1 billion. This shift comes after a robust September, where exports increased by 7.5 percent year-on-year to $58.7 billion, marking the 12th consecutive month of growth. The recent figures suggest a potential cooling off in trade activities for the country.