emirates7 - South Korea’s exports declined in January, ending a streak of 15 consecutive months of annual growth, primarily due to fewer business days resulting from the extended Lunar New Year holiday, according to data released by the Ministry of Trade, Industry, and Energy on Saturday, as reported by Yonhap.

The country’s outbound shipments totaled $49.1 billion last month, reflecting a 10.3 percent compared to the previous year. Meanwhile, imports decreased by 6.4 percent year-on-year to $51 billion, leading to a trade deficit of $1.89 billion—the first in 20 months.

Among key sectors, semiconductor exports grew by 8.1 percent, reaching $10.1 billion, the second-highest January figure on record. This also marked the ninth consecutive month that chip exports exceeded the $10 billion threshold.

Shipments of computers, including solid-state drives, saw a 14.8 percent increase, totaling $800 million, maintaining an upward trend for the 13th straight month.

Conversely, automobile exports suffered a sharp decline, plummeting 19.6 percent year-on-year to $5 billion. The was attributed to reduced production during the long holiday period and weakened demand for diesel and electric vehicles.