August 1-20 trade deficit of USD 10.2 billion… Possibility of loss for 5 consecutive months

From August to the last 20 days, the trade deficit exceeded $10 billion.

According to the Korea Customs Service, exports increased by 3.9% to $33.424 billion by the 20th of this month, but the trade deficit widened as imports increased by 22%, mainly oil and gas.

The combined imports of oil, gas and coal, the three major energy sources, amounted to US$12.48 billion, an increase of 71% from the same period last year.

As such, it is highly likely that it will record a trade deficit for the fifth straight month in 14 years.