S.Korea June 1-10 exports shrink 12.7%, trade deficit at $6 billion

SEOUL – South Korea’s exports for the first 10 days of June shrank 12.7% from the same period a year before, customs agency data showed on Monday.

The country’s imports grew 17.5%, however, bringing the trade balance to a $6 billion deficit for the period.

By product, exports of semiconductors grew 0.8% and petroleum products surged 94.5%, but those of cars, automobile parts and wireless communication devices fell 35.6%, 28.8% and 27.5%, respectively.

By destination, shipments to China, the United States and European Union shrank 16.2%, 9.7% and 23.3% each.

(Reporting by Jihoon Lee; Editing by Tom Hogue)