US EditionSouth Korea’s exports shrink for 11th straight month
- South Korean exports continued to decline for the 11th consecutive month in August, but at a milder rate than the previous month and expectations. Overseas sales fell by 8.4% year-on-year to $51.87 billion, beating the median forecast of an 11.6% decline. Shipments to China decreased by 20% from the previous month, while those to the United States and the European Union saw slight increases.
- Exports of semiconductors fell by 21%, but the decline was not as severe as the previous month. On the other hand, automobile exports rose by 29% and ship exports jumped by 35%.
- Imports in South Korea dropped by 22.8% to $51 billion, resulting in a trade surplus of $0.87 billion. The country's trade balance remained positive due to robust exports of automobiles and machinery, as well as improvements in semiconductor exports. The government expects exports to start growing from October.
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9 Articles
Korea's exports down for 11th month in August on weak chip demand
Korea's exports fell for the 11th consecutive month in August due mainly to weak demand for semiconductors and petroleum products, but the country reported a trade surplus for the third straight month, the industry ministry said Friday.
South Korea exports fall less than expected in August
SEOUL – South Korea’s export decline softened in August, beating market expectations, trade data showed on Friday. Overseas sales by Asia’s fourth-largest economy fell 8.4 percent year-on-year to $51.87 billion in August, compared with a 16.4 percent drop in July and less than the forecast for an 11.6 percent decline in a Reuters survey of The post South Korea exports fall less than expected in August appeared first on Inquirer Business.
South Korea exports fall less than expected in August
SEOUL (Reuters) - South Korea's export decline softened in August, beating market expectations, trade data showed on Friday. Overseas sales by Asia's fourth-largest economy fell 8.4% year-on-year to $51.87 billion in August, compared with a 16.4% drop in July and less than the forecast for an 11.6% decline in a Reuters survey of economists. It was the 11th consecutive month exports fell on an annual basis, the longest period since January 20…
South Korea exports fall for 11th month, but at milder pace
SEOUL :South Korean exports fell for an 11th consecutive month in August versus a year earlier, but the decline was milder than the previous month as well as market expectations.Overseas sales from Asia's fourth-largest economy fell 8.4 per cent year-on-year to $51.87 billion in August, trade data showed on F
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