S. Korea's exports drop 22 pct in Aug. 1-10 period
South Korea's exports posted a double-digit drop for the first 10 days of this month on weak sales of semiconductors, customs office data showed Monday.
Exports, which account for over half of the economy, reached 11.5 billion U.S. dollars during the August 1-10 period, down 22.1 percent from the same period last year, according to the Korea Customs Service.
The country's exports continued to slide for eight straight months through July.
Imports dropped 13.2 percent over the year to 14.2 billion dollars in the 10-day period, sending the trade deficit to 2.7 billion dollars.
During the period, semiconductor exports tumbled 34.2 percent on the continued downturn in business cycle of the global chip industry.