South Korea's exports fell 15.3 percent on-year in the first 10 days of August on weak chip and petroleum exports, data showed Friday.

The country's outbound shipments reached $13.2 billion in the Aug. 1-10 period, compared with $15.6 billion tallied a year earlier, according to the data from the Korea Customs Service.

Imports plunged 30.5 percent on-year to $16.2 billion during the period, resulting in a trade deficit of $3 billion.

By sector, exports of semiconductors moved down 18.1 percent over the period to $2.45 billion, and those of petroleum products plunged 37.8 percent to $1.37 billion.

Outbound shipments of steel and mobile electronics fell 22.4 percent and 4.2 percent, respectively, to $967 million and $540 million, the data showed.

On the other hand, exports of automobiles shot up 27.2 percent to $535 million.

Exports to China, the biggest trade partner of Asia's No. 4 economy, decreased 25.9 percent to $2.87 billion.

Shipments to the United States edged down 0.8 percent to $1.92 billion, while those to Vietnam moved up 3.7 percent to $1.51 billion.

South Korea's exports fell for the 10th consecutive month in July due mainly to weak demand for semiconductors, but the country reported a trade surplus for two straight months.

Exports have been on a steady decline since October last year amid aggressive monetary tightening by major economies to curb high inflation and an economic slowdown. It is also the first time since 2020 that exports have declined for nine months in a row.

The combined trade deficit this year as of Thursday reached $27.8 billion. (Yonhap)