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South Korea's Aug 1-10 exports dive as shipments to major trading partners drop

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South Korean exports suffered a major decline in the first 10 days of August, as the coronavirus crisis continued to knock demand at its trading partners, the United States, Europe and China.

[SEOUL] South Korean exports suffered a major decline in the first 10 days of August, as the coronavirus crisis continued to knock demand at its trading partners, the United States, Europe and China.

Exports contracted 23.6 per cent from a year earlier in the period, while imports declined 24.3 per cent, data from the Korea Customs Service showed on Tuesday.

Overseas sales to China, its biggest trading partner, dropped 11.3 per cent while that to the United States and Europe contracted sharply by 22.3 per cent and 13.9 per cent, respectively.

Full month trade data for August will be released on September 1.

REUTERS

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