Korea’s Exports Grow 5.3 pct In First Week Of Year, Led By Semis


South Korean exports, a main leading indicator of global manufacturing conditions,  especially the electronics sector, showed marked improvement in the first ten days of January.

South Korea’s Customs Service reported on Monday that exports rose 5.3 percent in the first 10 days of January, mainly the result of growing shipments of semiconductors.

Exports of semiconductors and petrochemical goods rose 11.5 percent and 30.6 percent, respectively.  However, shipments of passenger cars and wireless equipment fell 4.6 percent and 4.8 percent, according to the data.

The average daily exports — which reflect working days — also gained 5.3 percent on-year in the first 10 days of January, the data showed.

South Korea’s exports to Vietnam and Japan rose 11.7 percent and 6 percent.

Shipments to China and the United States declined 3.5 percent and 12 percent, respectively, reflecting a yearlong trade row between the world’s top two economies, which are also South Korea’s two largest trading partners.

South Korea’s exports fell 10.3 percent in 2019, hit by a slump in the global chip market coupled with the trade feud between the U.S. and China.

It marked the first time in 10 years for the annual exports to drop by a two-digit rate.

See the full article at Yonhap here.