Trade deficit $9.5 billion doubling every month Semiconductor export negative growth

The trade deficit recorded US$9.5 billion in August, doubling every month since May, and semiconductor exports grew negatively by -0.2%.
Statistics from the Korea Customs Service showed that imports increased by 28.2% (year-on-year) from a deficit of USD 9.487 billion in August, and exports rose 6.6% to USD 56.758 billion. $4.9 billion → February: $1.02 billion → March: $120 million → April -$2.48 billion in deficit, May - $1.59 billion → June - $2.5 billion → July - 5 billion From $80 million to $9.49 billion in August, it is almost doubling every month.
Semiconductor exports turned to a -0.2% decline for the first time in 26 months.
The sharp increase in imports (from the previous month) was evident in ▲ passenger cars (54.7%) ▲ home appliances (14.5%) ▲ oil (73.5%) ▲ gas (117.1%) ▲ coal (132.3%), ▲ iron ore (-17.1%), and pharmaceuticals (-27.6%) decreased, and imports of luxury cars and home appliances increased.
As for the trade deficit, the Middle East - 9.97 billion dollars ▲ Australia -2.28 billion dollars ▲ Japan -1.82 billion dollars ▲ European Union - 470 million dollars. ▲ Middle East (94.4%) ▲ USA (25.5%) ▲ European Union (12.6%) ▲ Japan (0.2%) ▲ Australia (45.3%).
The countries with the increase in exports are the United States (13.6%), the European Union (7.3%), Taiwan (4.8%), Australia (156.8%), and the Middle East (8.2%). -2.5%) ▲ Hong Kong (-43.0%).
China, which has had the biggest impact on the decline in exports, saw the biggest decline in August after falling for the third straight month.
The decrease was concentrated in high-tech products such as memory semiconductors (-16.7%), semiconductor manufacturing equipment (-17.2%), liquid crystal devices (-31.4), and wireless communication devices (-75.1%), as Korea’s main export products were concentrated. .
Due to the drop in international oil price, the import price per barrel rose from $81.8 in January → $91.6 in February → $98.4 in March → $113.6 in April → $110.7 in May → 116.4 in June → $118.4 in July → $110.4 in August. The unit price in August is lower than in April, so it has nothing to do with inflation.
On his way to work on the 15th, President Yoon Seok-yeol said, “The general trend is to first catch the price level that causes a substantial (income) decline for the common people. It's not up to you," he said.