Korea’s exports down 8% in Sept.
[THE INVESTOR] Korea’s exports slipped in September compared with a year ago due to fewer working days and high base effect, government data showed on Oct. 1.
Outbound shipments reached US$50.58 billion last month, down 8.2 percent from a year ago, according to the data compiled by the Ministry of Trade, Industry and Energy. Average daily exports stood at US$2.69 billion in September, constituting a record high.
Imports fell 2.1 percent on-year to US$40.83 billion, and the country’s trade surplus reached US$9.7 billion. This marks 80 straight months in which the country’s exports have exceeded imports, the ministry said.
There were only 19.5 working days in September this year due to the Chuseok holiday falling from Sept. 24-26, resulting in four fewer days compared with a year ago.
By Song Seung-hyun and newswires (firstname.lastname@example.org)