SEOUL, April 21. /TASS/. Exports from South Korea fell by 5.2% in the first 20 days of April year-on-year, while supplies to the US lost 14.3% amid American tariffs, South Korea's Yonhap news agency reported citing preliminary data from the Korea Customs Service.
Outbound shipments from the republic reached $33.87 bln in the April 1-20 period, compared with $35.75 bln tallied over the same period last year, according to the data. Imports decreased by 11.8% year-on-year, resulting in a trade deficit of $1 bln.
Exports to the US contracted by 14.3% on-year to $6.18 bln, while shipments to China, which is the top trading partner of South Korea, climbed by 7.6% to $7.64 bln. By item, exports of semiconductors increased 10.7% from a year earlier to $6.47 bln. In contrast, shipments of automobiles went down by 6.5% on-year to $3.67 bln and those of petroleum products plummeted by 22% to $2.2 bln.
The agency noted that the slowdown of export supplies might be partially explained by US tariffs, some of which were announced back in March, while the majority of restrictions came into force in early April. Meanwhile the Customs Service is cautious in its estimations of preliminary data. "There is a tendency for exports to increase toward the end of the month, so it remains to be seen whether this downward trend will continue on a monthly basis," an agency official said on condition of anonymity.
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