Exports rise 18.5 pct during first 20 days of August

South Korea's exports increased 18.5 percent on-year in the first 20 days of August, data showed Wednesday, on the back of solid outbound shipments of chips. Outbound shipments reached US$33.1 billion in the Aug. 1-20 period, compared with $27.9 billion tallied a year earlier, according to the data from the Korea Customs Service. Imports grew 10.1 percent on-year to $34.6 billion during the period, resulting in a trade deficit of $1.47 billion. In July, exports extended on-year gains to the 10th straight month on the back of the robust performance of semiconductors, maintaining a trade surplus for 14 consecutive months. Source: Yonhap News Agency