South Korea's Trade Deficit Widens as Exports to Key Markets Decline

The impact of the comprehensive tariff measures imposed by the second Trump administration is now evident, with South Korea's exports to the U.S. experiencing a significant 14.3% drop in the first 20 days of April compared to the same period last year.

According to the Korea Customs Service, the total export value from April 1 to 20 was $33.9 billion, marking a 5.2% decrease year-on-year. Imports also fell by 11.8% to $34 billion, resulting in a trade deficit of $100 million.

Exports to Major Markets Show Varied Performance

While exports to China decreased by 3.4%, there were notable declines in other regions such as Japan (-14.7%) and Hong Kong (-22.4%). However, exports to Europe and Taiwan showed positive growth, increasing by 13.8% and 22%, respectively.

Industry-Specific Impacts Highlight the Uneven Effects of Tariffs

The semiconductor sector saw a 10.7% increase in exports, but most other industries faced significant challenges. Home appliances, computer peripherals, and petroleum products were among the hardest hit, with declines ranging from 22% to 29.9%.