Exports set to continue record-long decline

Exports set to continue record-long decline

[THE INVESTOR] The downward spiral for Korea’s exports will likely continue for the 18th consecutive month, data showed on June 21.

According to Korea Customs Service data, exports between June 1 and June 20 came in at about US$ 25.66 billion, down 12.8 percent compared to the same month last year.

The customs office said that the fall in integrated circuit exports has contributed significantly to the figure for June so far.

It noted that integrated circuit exports in June fell 9.1 percent compared to the same period last year. The figure for Vietnam was cut by 44.7 percent, while that for Hong Kong saw a 33.6 percent drop.

Excluding June, Korea’s exports monthly export volume has recorded year-on-year drop for 17 consecutive month since January 2015.

The 17-month losing streak is the longest on record since the country began tallying month trade volume in 1970.

 

Source: http://www.koreaherald.com/view.php?ud=20160621000592

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