South Korea reports a 17.8% drop in exports, facing a trade deficit as automotive shipments fall.

South Korea's exports fell by 17.8% in the first 10 days of November compared to the same period last year, due to fewer working days and reduced demand. Despite a 17.4% increase in semiconductor exports, automotive shipments declined by 33.6%, leading to a trade deficit of $856 million. The government forecasts a 9% yearly increase in exports, aiming for over $700 billion in 2024.

November 11, 2024
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