South Korea in June reduced exports by 13.5% compared to the same month last year to $44.18 billion, official data showed. The decline in exports has been observed in the country for the past seven months, which is caused by lower prices for memory chips and a decline in demand from China, which is experiencing problems with the trade conflict with the United States. Compared with a decline in Japanese exports in May by 9.5%, its rate of decline in June accelerated. Economists assumed that its volume would be reduced by 12%. The export of semiconductors showed the largest decrease of 25.5%. The country also recorded a decrease in imports by 11.1% in June, after a 1.8% decrease in the previous month. Last month, imports amounted to 40.01 billion dollars. According to experts, it was expected to drop by 10.1%. The trade deficit of the country amounted to 4.17 billion dollars.
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