S. Korea's exports drop 7% on August 1-20

South Korea's exports stood at US$23.1 billion in the Aug. 1-20 period, dropping 7 percent from the same period last year.

The average daily exports during the period declined by 3.7 percent.

South Korea's outbound shipments dropped for the fifth consecutive time in July due to the pandemic, declining 7 percent to $42.8 billion last month.

By segment, exports of memory chips rose 2.9 percent while those of automobiles declined 10.1 percent on-year in the 20-day period.

In terms of destination, those to China slipped 0.2 percent on-year, and those to the US surged 6.2 percent.

The country's imports slipped 12.8 percent on-year to $23.3 billion during the 20 days.