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Korea's exports down 2.2% in first 20 days of July amid U.S. tariff concerns

Published: 21 Jul. 2025, 10:51 Updated: 21 Jul. 2025, 14:34

Containers are piled up at a port in Pyeongtaek, Gyeonggi, on July 7. [YONHAP]

Korea's exports shrank 2.2 percent from a year earlier in the first 20 days of this month, data showed Monday, due in part to weaker shipments to the United States and China amid persistent uncertainties over U.S. tariff policies.

Outbound shipments reached $36.1 billion in the July 1 to 20 period, compared with $36.9 billion tallied over the same period last year, according to the data from the Korea Customs Service.

Imports decreased 4.3 percent on-year to $35.6 billion during the period, resulting in a trade surplus of $500 million.

Despite the overall drop, the daily average export volume rose 4.1 percent from a year earlier over the cited period, the agency said. The number of working days during the cited period stood at 15.5 days this year, compared with 16.5 days in 2024.

By destination, exports to the U.S. fell 2.1 percent on-year to $6.42 billion, weighed down by continued tariff measures under the Donald Trump administration.

Shipments to China, the top trading partner of Korea, dropped 5.9 percent on-year to $6.88 billion.

The customs agency attributed the decline to both reduced working days and heightened uncertainty surrounding U.S. trade policy.

By item, exports of semiconductors surged 16.5 percent from a year earlier to $7.89 billion, and shipments of automobiles went up 3.9 percent to $3.63 billion

In contrast, outbound shipments of petroleum products plummeted 17.5 percent on-year to $2.52 billion.

In June, exports rose 4.3 percent from a year earlier to $59.8 billion, marking the highest figure for any June, on the back of strong global demand for semiconductors, separate government data showed.

Yonhap