South Korea’s exports fell for the first time in 16 months on fewer working days and tariff uncertainty from the United States.

The economy’s exports decreased 10.3 percent in January 2025 to $49.1 billion from a year earlier, according to the Ministry of Trade, Industry, and Energy Sunday. Imports declined by 6.4 percent to $51 billion, leading to a trade deficit of $1.89 billion.

The sharp decline in exports for the month was largely due to the extended Lunar New Year holiday, which involves fewer business days. U.S. President Donald Trump has pledged to impose stiff tariffs on major trading partners including Mexico, Canada, and China, which raises concerns over Korea’s export trend.

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