South Korea's exports rose slightly from a year earlier in the first 10 days of this month on strong shipments of semiconductors and automobiles, data showed Tuesday.
Outbound shipments reached $14.9 billion in the Feb. 1-10 period, up 0.8 percent from $14.8 billion tallied over the same period last year, according to the data from the Korea Customs Service.
Imports gained 0.3 percent on-year to $17.1 billion during the period, resulting in a trade deficit of $2.2 billion.
The daily average volume of exports, on the other hand, declined 6.4 percent on-year over the cited period, according to the trade agency. The number of working days during this period stood at seven, compared with 6.5 days a year earlier.
"The trade deficit in early February is a temporary phenomenon caused by a concentration of imports at the beginning of the month," Cho Ik-no, an industry ministry official, said. "For February as a whole, we expect exports to turn positive and (trade balance to) shift back to a surplus, driven by a strong semiconductor performance."
In January, exports fell for the first time in 16 months, largely due to fewer working days caused by the extended Lunar New Year holiday.
By sector, exports of semiconductors moved up 1.8 percent on-year to $2.8 billion in the first 10 days of February, reflecting an upswing cycle in the semiconductor industry.
Shipments of automobiles skyrocketed 27.1 percent on-year to $1.4 billion.
In contrast, outbound shipments of petroleum products plunged 22.3 percent on-year to $1.1 billion.
By destination, exports to China, the top trading partner of South Korea, went up 4.5 percent to $2.95 billion.
Shipments to the United States, on the other hand, shed 8.6 percent on-year to $2.6 billion. (Yonhap)
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