Pandemic to hit trade harder than 2008 financial crisis: BOK
- 4 years ago
한은 "글로벌 생산•교역 위축 금융위기보다 클 것"
The Bank of Korea is projecting global production and trade during the pandemic to be even weaker than during the 2008 financial crisis.
It said Thursday that this will deal a further blow to South Korea's exports.
Shipments of semiconductors used in mobile phones are expected to be one of the hardest hit areas.
But the BOK noted that semiconductor exports will pick up in the second half of the year as countries resume economic activities.
Automobile and machinery shipments are also expected to drop due to falling global oil prices.
The Bank of Korea is projecting global production and trade during the pandemic to be even weaker than during the 2008 financial crisis.
It said Thursday that this will deal a further blow to South Korea's exports.
Shipments of semiconductors used in mobile phones are expected to be one of the hardest hit areas.
But the BOK noted that semiconductor exports will pick up in the second half of the year as countries resume economic activities.
Automobile and machinery shipments are also expected to drop due to falling global oil prices.