S. Korea's exports fall 8.2 pct on-year in March
- 5 years ago
The alarm bells are getting louder over South Korea's sagging trade figures.
The numbers for March showed exports down again... compared to the month before.
And again it was South Korea's top export item -- semiconductors -- that led the decline.
Kim Da-mi reports. Korea's exports fell on-year for 4th consecutive month in March.
According to the Trade Ministry on Monday, the numbers for March fell by more than 8 percent on-year to 47-point-1 billion U.S. dollars.
"The main reasons for the slump include the global economic slowdown, China's slowing economy, falling semiconductor prices and the lower number of working days."
Semiconductor exports dropped 16-point-6 percent, and petrochemical goods were down almost 11 percent.
"The global economy is not likely to improve immediately, which means it will take some time for South Korea’s exports to increase. The country’s export situation will improve in the second half of year, with an increase in semiconductor exports."
The country’s imports also dropped 6-point-7 percent during the same period.
In particular, imports of semiconductor manufacturing equipment fell 70 percent on-year as a result of local companies' less active facility investment. LNG imports were also down.
In the midst of the country's slow trade numbers, the Trade ministry has also announced on Monday its plan to improve trade finance for local exporters by giving them access to cash through export bonds.
"In addition to speeding up the introduction of measures to boost exports, the Trade Ministry will hold an export strategy coordination meeting next Tuesday to discuss ways to improve marketing support for exports. Kim Da-mi, Arirang News."
The numbers for March showed exports down again... compared to the month before.
And again it was South Korea's top export item -- semiconductors -- that led the decline.
Kim Da-mi reports. Korea's exports fell on-year for 4th consecutive month in March.
According to the Trade Ministry on Monday, the numbers for March fell by more than 8 percent on-year to 47-point-1 billion U.S. dollars.
"The main reasons for the slump include the global economic slowdown, China's slowing economy, falling semiconductor prices and the lower number of working days."
Semiconductor exports dropped 16-point-6 percent, and petrochemical goods were down almost 11 percent.
"The global economy is not likely to improve immediately, which means it will take some time for South Korea’s exports to increase. The country’s export situation will improve in the second half of year, with an increase in semiconductor exports."
The country’s imports also dropped 6-point-7 percent during the same period.
In particular, imports of semiconductor manufacturing equipment fell 70 percent on-year as a result of local companies' less active facility investment. LNG imports were also down.
In the midst of the country's slow trade numbers, the Trade ministry has also announced on Monday its plan to improve trade finance for local exporters by giving them access to cash through export bonds.
"In addition to speeding up the introduction of measures to boost exports, the Trade Ministry will hold an export strategy coordination meeting next Tuesday to discuss ways to improve marketing support for exports. Kim Da-mi, Arirang News."