S. Korea’s exports down 14.7% y/y in October amid slowing global trade


last month South Korea’s exports fell
for the eleventh month in a row South Korea’s trade ministry said it’s
mainly due to weaker chip exports and the impact of the us-china trade
disputes Yoon Jong min with the details concerns are growing as South Korea’s
exports fell again in October for the eleventh straight month amid slowing
global trade data released by a trade ministry showed on Friday that the
country’s outbound shipments slumped nearly fifteen percent on-year to some
46 billion u.s. dollars in October that’s the biggest on-year decline this
year semiconductor shipments have fallen 32 percent while petroleum goods were
down 23 percent however exports of ships went up 26% computer and bio health
product shipments also increased nearly eight percent in October the ministry
attributed the fall in exports to sluggish semiconductor demand and the
impact of the ongoing trade spat between the US and China in fact the ministry
said falling exports are a concern for all major global economies due to rising
uncertainties such as trade disputes or concerns over a possible No Deal brexit
the ministry however such a pants reason expert restrictions on South Korea have
so far had a limited impact on Seoul imports also dropped around 15 percent
on-year in October to some 41 billion dollars with imports and exports both
declining the country posted a trade surplus of some 5.4 billion dollars in
joaneen arirang news

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