S. Korea vulnerable to U.S.-China trade war due to high intermediate goods exports
- 5 years ago
The U.S.-China trade war has left South Korea's economy vulnerable.... because the country relies heavily on intermediate goods exports.
The Institute for International Trade says,... South Korea's exports of intermediate goods amounted to over 71 percent of its total exports last year,... substantially more than China's 44 percent and Germany's 46 percent.
In contrast,... Korea's exports of consumer goods were below 11 percent,... less than half of China's 26 percent and Germany's 25 percent.
The institute stressed the need to increase consumer goods exports such as cosmetics and automobiles to mitigate risk,... as intermediate goods are sensitive to global economic fluctuations.
The Institute for International Trade says,... South Korea's exports of intermediate goods amounted to over 71 percent of its total exports last year,... substantially more than China's 44 percent and Germany's 46 percent.
In contrast,... Korea's exports of consumer goods were below 11 percent,... less than half of China's 26 percent and Germany's 25 percent.
The institute stressed the need to increase consumer goods exports such as cosmetics and automobiles to mitigate risk,... as intermediate goods are sensitive to global economic fluctuations.