Korea's Exports Down 0.2 Pct In First 20 Days Of January
Mohammad Ali (@ChaudhryMAli88) Published January 21, 2020 | 11:40 AM
South Korea's exports fell 0.2 percent in the first 20 days of January, marking the lowest rate of decline in a year, as outbound shipments of semiconductors rebounded, data showed Tuesday
SEJONG, (UrduPoint / Pakistan Point News - 21st Jan, 2020 ) :South Korea's exports fell 0.2 percent in the first 20 days of January, marking the lowest rate of decline in a year, as outbound shipments of semiconductors rebounded, data showed Tuesday.
The country's exports stood at US$25.7 billion in the January 1-20 period, down $40 million from the same period last year, according to the Korea Customs Service.
The rate of decline was also much less than the 2 percent fall in the December 1-20 period last year, the data showed.
By product, exports of semiconductors and petrochemical goods gained 8.7 percent and 19.3 percent, respectively.
In contrast, outbound shipments of passenger cars and wireless equipment fell 6.8 percent and 6.2 percent, according to the data.
Exports to Vietnam and Japan rose 6.
7 percent and 5.6 percent during the January 1-20 period, respectively.
Exports to China and the United States, however, fell 4.7 percent and 4.9 percent, respectively.
South Korea's imports gained 3 percent on year to $28.1 billion during the January 1-20 period.
South Korea's economy is expected to have suffered its weakest annual growth in a decade last year, hit by a lengthy U.S.-China trade war and a cyclical slump in the memory chip sector.
For December last year, monthly exports slipped 5.2 percent on-year to $45.7 billion to extend their slump to a whopping 13th consecutive month. However, this year's outbound shipments are forecast to rise 3 percent.
South Korea's exports fell 10.3 percent on-year in 2019 to $542.4 billion, according to government data.
Related Topics
Recent Stories
Punjab CM inaugurates Pakistan’s first Virtual Women Police Station
Dutch model Donny Roelvink embraces Islam
Experts raise concerns over introduction of 10-stick packs
Iranian president arrives in Karachi
Law Minister expresses Govt's resolve to address issue of missing persons
Rizwan’s batting order may be changed: Sources
Nawaz Sharif to visit Guangzhou exhibition in China
FM Dar not traveling to China: Foreign Office
PM takes notice of deliberate delay in tax cases
Iranian President visits Allama Iqbal’s mausoleum
Iranian President arrives in Lahore today
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 23 April 2024
More Stories From Business
-
Afghan trade delegation, FPCCI discuss bilateral trade
4 hours ago -
With knowledge economy, Mauritius is a stable economy: Envoy
4 hours ago -
Aurangzeb reiterates govt's resole to reduce poverty, promote sustainable development
5 hours ago -
Finance minister meets Chairman Anjuman-e-Tajran; discuss issues of business community
5 hours ago -
Govt ensuring digital access as fundamental right: Ahsan Iqbal
6 hours ago -
WHO delegation calls on Chairman FBR
6 hours ago
-
Bill drafted to regulate veterinary sciences and animal welfare: Tanveer
6 hours ago -
General Motors lifts 2024 profit forecast after strong Q1
7 hours ago -
Pakistan aims to reach $3 trillion economy by 2047: Ahsan Iqbal
7 hours ago -
Digital technologies play significant role in economic growth: Shaza
8 hours ago -
Experts raise concerns over introduction of 10-stick packs
8 hours ago -
SACM directs making technical institutes as skill imparting centres
9 hours ago