S. Korea's trade deficit in first half of 2022 saw all-time high for every H1
Updated: 2022-07-01 09:09:52 KST
South Korea has reported its highest ever trade deficit in the first and second quarter of this year.
According to data released by the Ministry of Trade, Industry, and Energy on Friday, exports in the first half of 2022 increased 15.6 percent from the same period last year to a little over 350 billion U.S. dollars.
However, imports rose more than 26 percent to over 360 billion dollars, surpassing exports by around 10.3 billion dollars.
Meanwhile, the trade deficit for the month of June stood at 2.4 billion dollars marking the third consecutive month that imports have exceeded exports.