Exports in Early August Decrease by 4.3%... 'Tariff Impact' US Exports Down 14.2%

[Financial News] Exports in early August decreased by 4.3% compared to the same period last year. The impact of tariffs from the Trump administration in the United States has led to a noticeable decline in exports to the US, China, and the European Union. The export growth trend, which had turned positive for two consecutive months as of last month, is showing signs of slowing. However, thanks to strong exports of key items such as semiconductors and automobiles, the average daily export amount increased.
 According to the provisional export-import statistics compiled by the Korea Customs Service on the 11th, the export amount during the period from August 1 to 10 was 14.7 billion dollars, a decrease of 4.3% compared to the same period last year. However, considering the number of working days, the average daily export amount increased by 9.3% to 2.1 billion dollars. The number of working days this year was 7.0 days, one day shorter than the same period last year (8.0 days).
 During this period, imports amounted to 15.9 billion dollars, a decrease of 13.6%, resulting in a trade deficit of 1.2 billion dollars.
 Major export items increased, including semiconductors (12.0%), ships (81.3%), and passenger cars (8.5%). On the other hand, exports of petroleum products (-19.4%) and wireless communication devices (-4.5%) decreased.
 By country, exports to China (-10.0%), the United States (-14.2%), and the European Union (EU, -34.8%) decreased, while exports to Vietnam (4.1%) and Taiwan (47.4%) increased.
 Among major import items, wireless communication devices (8.0%) increased, while crude oil (-14.2%), semiconductors (-8.4%), gas (-29.5%), and petroleum products (-1.7%) decreased.
 By country, imports from Saudi Arabia (2.1%) and Vietnam (9.4%) increased, while imports from China (-11.1%), the United States (-18.7%), and the EU (-5.3%) decreased.
 Meanwhile, exports in July increased by 5.9% compared to the previous year, recording 60.82 billion dollars, continuing the growth trend for two consecutive months despite tariff uncertainties. Semiconductor exports, the largest export item, achieved the highest performance for July with 14.71 billion dollars (31.6%↑). Automobile exports also increased for two consecutive months, reaching 5.83 billion dollars (8.8%↑). Exports to the US increased by 1.4% to 10.33 billion dollars, with strong semiconductor and IT exports offsetting the sluggish performance in automobiles despite the impact of tariffs.
 Exports to China decreased to 11.05 billion dollars (-3.0%), affected by the poor performance of major items such as petrochemicals and wireless communication devices.

kwj5797@fnnews.com Kim Wonjun Reporter