S Korea exports fall 7.5 per cent in January
SEJONG — South Korea’s exports fell 7.5 per cent in the first 10 days of January from a year earlier due largely to a sharp decline in shipments of semiconductors and ships, customs data showed yesterday.
The country’s outbound shipments reached US$12.7 billion in the January 1- 10 period, compared with $13.6 billion in the same period of last year, according to the data from the Korea Customs Service.
The office said that daily average exports, which reflect working days, also fell 7.5 per cent onyear to $1.69 billion in the cited period.
By product, outbound shipments of semiconductors and ships fell 27.2 per cent and 29.7 per cent, respectively, from a year earlier.
On the other hand, exports of passenger cars soared 127.7 per cent. But outbound shipments of wireless communication devices rose 23.5 per cent.
Exports to the US and Canada rose 36.6 per cent and 99.5 per cent, respectively, while shipments to China and Middle Eastern countries fell 15.1 per cent and 40 per cent, respectively, the data showed.
South Korea imported goods worth $14.5 billion in the 10-day period, down 6.8 per cent from a year earlier.
Meanwhile, South Korea’s economy showed “a solid trend
The country’s outbound shipments reached US$12.7 billion in the January 1-10 period, compared with $13.6 billion in the same period of last year, according to the data from the Korea Customs Service.
of exports and domestic spending, but uncertainties persist over trade disputes between the US and China, and the semiconductor business,” the ministry said in its monthly economic assessment report.
The report, called the “Green Book,” is based on the latest economic indicators of such key factors as output, exports, consumption and corporate investment, which provide clues as to how Asia’s fourth-largest economy has been faring in recent months.
The country’s overall industrial output increased 0.2 per cent in November from a year earlier, while facility investment fell 7.4 per cent in the third quarter of 2018 from the same period of the previous year. — YONHAP