S. Korea's exports in first 10 days of May fell 46.3% y/y
- 4 years ago
5월 1∼10일 수출 46.3% 감소...산업부 "포스트 코로나19 글로벌 공급망 개편"
And, the impact of the coronavirus pandemic is being felt in trade, as well.
South Korea's exports and imports in the first 10 days of this month were both down by double digits.
The trade ministry held a meeting Monday on post-pandemic strategies.
Yoon Jung-min reports.
South Korea has seen its exports fall during the first 10 days of May due to the impact of COVID-19.
The Korea Customs Service said Monday that exports from May 1st to May 10th amounted to some 6-point-9 billion U.S. dollars,... down over 46 percent from the same period last year.
Car exports plunged over 80 percent,... while petroleum products shrank over 75 percent,... and semiconductors were down over 17 percent.
By country, exports to China fell about 29 percent,... while shipments to the U.S. and the EU fell by more than 50 percent.
Even after factoring in the fewer working days at the start of this month compared to last May,... daily average exports were still down some 30 percent.
Imports were also down over 37 percent on-year during the same period,... due mostly to fewer imports of semiconductors, crude oil and machinery.
"The global economy has weakened and this is difficult for the South Korean economy, which relies heavily on exports. It's vital to control the pandemic so that consumption and world trade volume can pick up."
Amid falling imports and exports, the Ministry of Trade, Industry and Energy held a meeting on Monday to discuss post-COVID-19 strategies.
The ministry said it will strengthen South Korea's non face-to-face sectors, virus prevention system and bio-tech to create future growth engines.
It also shared how it has been putting in efforts to diversify supply channels of key materials, including those needed for making chips and displays.
Yoon Jung-min, Arirang News.
And, the impact of the coronavirus pandemic is being felt in trade, as well.
South Korea's exports and imports in the first 10 days of this month were both down by double digits.
The trade ministry held a meeting Monday on post-pandemic strategies.
Yoon Jung-min reports.
South Korea has seen its exports fall during the first 10 days of May due to the impact of COVID-19.
The Korea Customs Service said Monday that exports from May 1st to May 10th amounted to some 6-point-9 billion U.S. dollars,... down over 46 percent from the same period last year.
Car exports plunged over 80 percent,... while petroleum products shrank over 75 percent,... and semiconductors were down over 17 percent.
By country, exports to China fell about 29 percent,... while shipments to the U.S. and the EU fell by more than 50 percent.
Even after factoring in the fewer working days at the start of this month compared to last May,... daily average exports were still down some 30 percent.
Imports were also down over 37 percent on-year during the same period,... due mostly to fewer imports of semiconductors, crude oil and machinery.
"The global economy has weakened and this is difficult for the South Korean economy, which relies heavily on exports. It's vital to control the pandemic so that consumption and world trade volume can pick up."
Amid falling imports and exports, the Ministry of Trade, Industry and Energy held a meeting on Monday to discuss post-COVID-19 strategies.
The ministry said it will strengthen South Korea's non face-to-face sectors, virus prevention system and bio-tech to create future growth engines.
It also shared how it has been putting in efforts to diversify supply channels of key materials, including those needed for making chips and displays.
Yoon Jung-min, Arirang News.