SoKor’s 20-day exports recover from months-long decline

The first 20 days of September saw South Korean exports recovering from six consecutive months of decline. The rebound was mainly from increased microchip and automobile sales, boosting recovery optimism in the trade-dependent economy.

From Sept. 1 to 20, exports advanced 3.6% from a year ago. Meanwhile, imports recorded a 6.8% drop on an annual basis, Korea Customs Service data showed on Monday.

Semiconductor shipments, South Korea’s primary exporting item, advanced 25.3% as car shipments soared 38.8%.

Shipments tallied a 7.5% decline from Aug. 1-20, while imports contracted 12.4% as the coronavirus crisis ravaged the country’s business sector. Meanwhile, average exports per working day dropped 9.8% when adjusting for the calendar effect of additional workdays.