Exports from South Korea shrank 4.4% yoy to USD 54.66 billion in September 2023, higher than market expectations of a 9.1% lower after a downwardly revised 8.3% fall within the earlier month, a preliminary print confirmed. It was the twelfth straight month of decline in exports, however the softest fall within the sequence amid weakening demand for semiconductors and a fall in chip costs. Gross sales decreased for semiconductors (-13.6%), petroleum (-7%), and petrochemicals (-6.0%), whereas these grew for automobiles (10%), ships (15%), metal merchandise (7%), and show gadgets (4%). Shipments shrank to China, South Korea’s high buying and selling companion (-17.6%), the ASEAN international locations (-8%), and the Center East (-2.2%). Against this, exports grew to the US (8.5%), the second consecutive month of enhance; the EU (6.5%), and the South American nations (18.2%). supply: Ministry of Commerce, Trade & Power (MOTIE)
Exports YoY in South Korea averaged 16.07 % from 1967 till 2023, reaching an all time excessive of 148.58 % in October of 1973 and a document low of -35.77 % in January of 2009. This web page features a chart with historic information for South Korea Exports YoY. South Korea Exports YoY – information, historic chart, forecasts and calendar of releases – was final up to date on October of 2023.
Exports YoY in South Korea is anticipated to be -10.00 % by the top of this quarter, in accordance with Buying and selling Economics international macro fashions and analysts expectations.
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