S.Korea 20-day exports fall on holiday effects, slow global economy
9:14 pm Tuesday, September 20th, 2022
SEOUL (Reuters) – South Korea’s exports fell 8.7% in the first 20 days of September from the same period a year earlier due to holiday effects and amid signs of slowing growth in major trading partners, customs agency data showed on Wednesday.
The country’s imports for the same 20-day period rose 6.1%, producing a trade deficit of $4.1 billion, the Korea Customs Service data showed.
The poor export performance, compared with positive growth seen in recent months, was due mainly to fewer working days this month than a year because of the Chuseok holidays.
Average exports per working day during the Sept. 1-20 period rose 1.8% from a year before, it added.
Finance Minister Choo Kyung-ho held a meeting of senior government officials to review trade conditions and vowed to focus policy to help exporters.
(Reporting by Choonsik Yoo; Editing by Himani Sarkar and Sam Holmes)
