Seoul: South Korea's exports fell by 5.1 percent year-on-year in the first 20 days of January, according to data released Tuesday. Outbound shipments amounted to US$31.6 billion during this period, a decrease from the $33.3 billion recorded in the same timeframe last year.
According to Yonhap News Agency, the Korea Customs Service data also indicated that imports decreased by 1.7 percent on-year, totaling $35.4 billion in the first 20 days of January. This decline in both exports and imports resulted in a trade deficit of $3.8 billion for the period. The ongoing trade performance highlights the economic challenges facing South Korea amid global market fluctuations.