▲ Containers for exports and imports are stacked at a pier under an overcast sky in South Korea's largest port city of Busan, 320 kilometers southeast of Seoul, in this file photo taken June 12, 2023. (Yonhap)

(LEAD) exports-June

(LEAD) Exports up 5.3 pct during first 20 days of June

(ATTN: RECASTS lead; UPDATES with details throughout)

By Kang Yoon-seung

SEOUL, June 21 (Yonhap) -- South Korea's exports rose 5.3 percent on-year in the first 20 days of June due to a greater number of working days, although shipments of semiconductors remained sluggish, data showed Wednesday.

The country's outbound shipments reached US$32.9 billion in the June 1-20 period, compared with $31.2 billion tallied a year earlier, according to the data from the Korea Customs Service.

The increase was driven by strong shipments of automobiles and ships, with the period having more working days compared with the same period in 2022.

The number of working days over the period came to 14.5, up from the previous year's 13.5. In terms of daily average, South Korea's export volume dropped 2 percent over the period.

Imports fell 11.2 percent on-year to $34.5 billion during the period, resulting in a trade deficit of $1.6 billion.

By sector, exports of chips dropped 23.5 percent on-year to $4.86 billion. Those of automobiles, on the other hand, more than doubled to $3.36 billion.

Overseas sales of ships also jumped 148.7 percent to $1.75 billion, the data showed.

Exports of steel products moved up 0.5 percent to $2.5 billion, while those of petroleum dropped 36 percent to $2.35 billion.

By destination, shipments to China, the top trading partner, fell 12.5 percent to $6.67 billion.

In contrast, exports to the United States jumped 18.4 percent over the period to $5.77 billion.

Outbound shipments to the European Union gained 26.4 percent to $3.6 billion, while those to Vietnam shed 2.8 percent to $2.72 billion.

South Korea releases its full monthly export data on the first day of every month.

In May, South Korea's overall exports fell for the eighth consecutive month, plunging 15.2 percent on-year to $52.24 billion. The decline came as exports of semiconductors sank 36.2 percent on falling global demand.

The combined amount of trade deficit so far this year came to $29 billion.

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