S. Korea's exports drop 10% y/y in first 20 days of June
- 5 years ago
6월 1~20일 수출 10% 감소...7개월 연속 감소 예상
South Korea's export growth is continuing to slow... due to sluggish global demand and unresolved U.S.-China trade friction.
Kim Hyesung reports.
South Korea's exports are on track to fall for the seventh consecutive month.
The Korea Customs Service said Friday,... exports between June 1st and June 20th fell 10 percent on-year to 27 billion U.S. dollars.
Automobile and shipbuilding exports rose, but outbound shipments of semiconductors and petrochemical goods fell sharply... by 24 percent and 22 percent respectively.
By region, exports to the U.S. and the EU ticked higher,... but exports to China, Korea's number one trading partner, tumbled over twenty percent.
Exports to Japan, Vietnam, and the Middle East also fell.
Another set of data released by the trade ministry Friday,... shows Korea's exports of ICT products,... including chips and mobile phones... plunged 22-point-six percent on-year to 14-point-three billion US dollars in May.
"Markets were expecting a rebound in chip prices and demand in the latter half of the year. But with continuing trade tensions between the U.S. and China and growing uncertainties, companies have postponed their investment in facilities and data centers, so demand for ICT exports is unlikely to rise soon."
Spot prices of 4 gigabit DRAM chips fell to two dollars in May,... down from three dollars in January.
Semiconductor exports accounted for a fifth of Korea's total exports,... topping the 100 billion dollar-mark last year.
But, with chip prices continuing to fall on slowing demand, worsening trade conditions and sluggish global growth,... Korea's exports could face more headwinds in the months ahead.
Kim Hyesung, Arirang News.
South Korea's export growth is continuing to slow... due to sluggish global demand and unresolved U.S.-China trade friction.
Kim Hyesung reports.
South Korea's exports are on track to fall for the seventh consecutive month.
The Korea Customs Service said Friday,... exports between June 1st and June 20th fell 10 percent on-year to 27 billion U.S. dollars.
Automobile and shipbuilding exports rose, but outbound shipments of semiconductors and petrochemical goods fell sharply... by 24 percent and 22 percent respectively.
By region, exports to the U.S. and the EU ticked higher,... but exports to China, Korea's number one trading partner, tumbled over twenty percent.
Exports to Japan, Vietnam, and the Middle East also fell.
Another set of data released by the trade ministry Friday,... shows Korea's exports of ICT products,... including chips and mobile phones... plunged 22-point-six percent on-year to 14-point-three billion US dollars in May.
"Markets were expecting a rebound in chip prices and demand in the latter half of the year. But with continuing trade tensions between the U.S. and China and growing uncertainties, companies have postponed their investment in facilities and data centers, so demand for ICT exports is unlikely to rise soon."
Spot prices of 4 gigabit DRAM chips fell to two dollars in May,... down from three dollars in January.
Semiconductor exports accounted for a fifth of Korea's total exports,... topping the 100 billion dollar-mark last year.
But, with chip prices continuing to fall on slowing demand, worsening trade conditions and sluggish global growth,... Korea's exports could face more headwinds in the months ahead.
Kim Hyesung, Arirang News.