South Korea’s Exports Recovers

According to South Korean media reports, South Korea ’s exports have performed well recently, and the country ’s trade is expected to recover from a slump of more than a year.

According to data released by the Korean Customs Service on Monday (13th), the country ’s total exports from January 1 to 10, 2020 were 13.3 billion US dollars, an increase of 5.3% over the same period last year.

From January 1 to 10, the annual growth rate of exports of memory chips and petroleum products increased by 11.5% and 30.6%, respectively. However, the shipment volume of automobiles fell by 4.6%, automobile parts fell by 9.6%, and wireless communication equipment fell. 4.8%.

By country, South Korea ’s exports to Vietnam grew by 11.7%, 6.0% to Japan, 26.5% to Hong Kong, 45.3% to the Middle East, exports to China fell by 3.5%, the United States fell by 12.0%, and the EU fell by 5.9% .

In terms of imports, the import volume from the 1st to the 10th was 15.4 billion U.S. dollars, with an annual growth rate of 5.7%, and the trade deficit was 2.1 billion U.S. dollars.

Crude oil imports increased by 40.7%, petroleum products increased by 73.0%, machinery decreased by 2.5%, coal decreased by 36.5%, and automobiles decreased by 32.1%.

By country, imports from the Middle East increased by 30.1%, imports from the United States increased by 26.1%, imports from Australia increased by 9.2%, and imports from Vietnam increased by 7.3%. Imports from China fell 1.1%, the EU fell 3.8%, and Japan fell 18.7%.