S Ko­rea ex­ports fall 7.5 per cent in Jan­uary

Viet Nam News - - ASIA BUSI­NESS -

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

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