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| Containers are stacked up at a quay in the southeastern port city of Busan, in this file photo taken Feb. 1. Yonhap |
Korea's exports increased 11.9 percent on-year in the first 10 days of February, data showed Monday, due to stronger shipments of automobiles and more working days.
The country's outbound shipments stood at $17.6 billion in the Feb. 1-10 period, compared with $15.7 billion a year earlier, according to the data from the Korea Customs Service.
The daily export volume, on the other hand, dipped 14.5 percent on-year, the data showed. The number of working days came to 8.5 days over the period, up two from a year earlier.
Imports gained 16.9 percent on-year to $22.6 billion during the cited period, resulting in a trade deficit of $4.9 billion.
Exports of chips, the mainstay product, reached $1.9 billion, down 40.7 percent from a year earlier.
Outbound shipments of automobiles, on the other hand, more than doubled to $1.74 billion.
Exports of petroleum products also increased 28.8 percent to hit $1.75 billion.
By destination, exports to China, the top trading partner, slipped 13.4 percent to $3.5 billion. Those to the United States, in contrast, shot up 48 percent to $3.25 billion.
Exports to the European Union jumped 53.3 percent to $2.25 billion, and those to Vietnam added 2.3 percent to $1.6 billion.
In January, outbound shipments fell 16.6 percent on-year to reach $46.27 billion, following a 9.5 percent on-year fall the previous month. The country's exports fell for the fourth consecutive month in January for the first time since 2020.
The country also reported an all-time monthly high trade deficit of $12.69 billion in January, far higher than the previous record of $9.44 billion set in August last year.
It has suffered a trade deficit for 11 straight months. (Yonhap)
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