Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Korea’s Exports Recovery Continues Behind Holiday-linked Fall

Economic IndicatorsOct 20, 2020 09:45PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. Korea’s Exports Recovery Continues Behind Holiday-linked Fall

(Bloomberg) -- South Korea’s early trade data showed exports falling in October driven by fewer working days, while daily average shipments continued to recover on resilient tech demand.

Exports fell 5.8% in the first 20 days of the month from a year earlier, according to customs office data released Wednesday. the value of average daily shipments still rose 5.9%, as the period had 1.5 fewer business days compared with last year.

South Korea’s trade data serve as a barometer of global demand. The rise in daily shipments suggests overseas demand is slowly picking up as countries adapt to life with the coronavirus.

South Korea’s memory chips have been among the biggest beneficiaries from the pandemic-driven increase in remote work and schooling arrangements. The country’s exports are also expected to get a boost from a broadening economic recovery in China, its biggest trade partner.

“The rise in Korea’s main products such as semiconductors should help keep the overall exports on the rise,” said Lee Jae-sun, an analyst at Hana Financial Investment Co. “Given China’s speedier recovery than other countries, Korea should see its exports of intermediate goods gradually increasing.”

South Korea’s semiconductor shipments increased 12% during Oct. 1-20, despite the smaller number of working days, while exports to China fell 4.6%.

The country’s national Chuseok holiday fell on Sept. 30-Oct. 2, as opposed to mid-September last year, likely disturbing trade performance at the start of October.

Exports to the U.S. declined 2.3%, while shipments to the European Union rose 14% and those to Japan dropped 17%. Overseas shipments of cars fell 7.6%, while oil products decreased 42%. Sales of computer devices rose 11%.

South Korea’s overall imports fell 2.8% in the first 20 days of the month.

(Adds economist comment)

©2020 Bloomberg L.P.

Korea’s Exports Recovery Continues Behind Holiday-linked Fall
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email