South Korea's export dropped in double digits in the first 10 days of this month due to fewer business days and the U.S. tariffs imposition, customs office data showed Monday.
Export stood at 12.83 billion U.S. dollars in the May 1-10 period, down 23.8 percent compared to the same period of last year, according to Korea Customs Service.
The double-digit slump was attributed to fewer working days. The number of business days slipped to 5.0 in the first 10 days of May from 6.5 a year earlier.
The daily average export fell 1.0 percent to 2.57 billion dollars in the 10-day period following the tariffs imposition in the second Trump administration that triggered trade war around the world.
Semiconductor export advanced 14.0 percent to 3.42 billion dollars, but automotive shipment tumbled 23.2 percent to 1.12 billion dollars.
Export for ships declined 8.7 percent to 627 million dollars, while those for oil products, steel, mobile devices, auto parts, computers, precision machinery and home appliances retreated in double figures.
Import dipped 15.9 percent from a year earlier to 14.57 billion dollars in the first 10 days of May, sending the trade deficit to 1.74 billion dollars.
Import for semiconductor equipment and cars expanded in double digits, but those for natural gas, coal, machinery, oil products and mobile devices logged a double-digit decrease in the cited period.
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