South Korea March 1-20 exports fall 17.4% as sales to China tumble

SEOUL : South Korean exports for the first 20 days of March fell 17.4 per cent from the comparable period of last year while imports dropped by a slower 5.7 per cent, as demand from China remained weak, customs agency data showed on Tuesday.

Exports by Asia’s fourth-largest economy to its top market of China fell by a sharp 36.2 per cent during the March 1-20 period over a year earlier, whereas shipments to the U.S. increased 4.6 per cent, the Korea Customs Service data showed.

The trade deficit for the 20-day period stood at $6.32 billion, bigger than both a shortfall of $2.05 billion for the same 2022 period and a deficit of $6.12 billion for the Feb. 1-20 period of this year, the data showed.

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