S. Korea's exports in first 20 days of May down 20.3% y/y due to COVID-19
Updated: 2020-05-21 09:58:29 KST
South Korea's outbound shipments tanked in the first 20 days this month over continued economic impact of COVID-19.
The Korea Customs Service announced this morning that total exports from May 1st to May 20th amounted to some 20.3 billion U.S. dollars, down by more than 20 percent on-year.
Petroleum goods fell sharply by more than 68 percent, while automobiles plunged by more than 58 percent.
Ship exports, on the other hand, climbed by around 31 percent, while semiconductors were up around 13 percent.
By region, shipments to the U.S. were down nearly 28 percent.
Exports to Japan and Europe were also down by double-digits.