Seoul: South Korea's exports fell by 2.3 percent year-on-year in the first 10 days of January, even as semiconductor sales remained robust, data revealed on Monday. Outbound shipments totaled $15.55 billion during the Jan. 1-10 period, compared to $15.92 billion a year ago, according to the Korea Customs Service.

According to Yonhap News Agency, average daily exports showed a 4.7 percent increase to $2.22 billion. The period accounted for 7 working days, slightly less than the 7.5 days in the previous year. Imports also fell by 4.5 percent to $18.21 billion, leading to a trade deficit of $2.7 billion.

Semiconductor demand, rising due to an industry upcycle, was counterbalanced by declining exports in automobiles, vessels, and steel. Chip exports surged 45.6 percent, reaching $4.64 billion, and represented 29.9 percent of total exports, up 9.8 percentage points from last year.

Automobile exports dropped by 24.7 percent to $1.01 billion, while vessel shipments decreased by 12.7 percent to $923 million. Steel exports fell 18.7 percent to $976 million. By destination, exports to China, South Korea's leading trade partner, rose 15.4 percent to $3.87 billion, whereas exports to the United States fell 14.7 percent to $2.27 billion.

Shipments to Taiwan increased by 55.4 percent to $852 million, while exports to the European Union decreased by 31.7 percent to $1.1 billion. In December, exports grew 13.4 percent to $69.6 billion, driven by semiconductor demand, marking the 11th straight month of year-on-year growth. In 2025, South Korea's exports reached a record $709.7 billion, exceeding the $700 billion milestone for the first time.