Exports in Korea
Korea - Exports
Export contraction softens in April
Merchandise exports fell 2.0% over the same month last year in April to a total of USD 48.9 billion, following the 8.2% contraction logged in March (USD 47.1 billion). Merchandise imports on the other hand rebounded 2.4% in April from a 6.7% contraction in March and totaled USD 44.7 billion (March: USD 41.9 billion). External demand for South Korean goods has been particularly dragged on by slowing Chinese growth, weaker global trade amid the persistent U.S.-China trade rift, and lower prices for semiconductors and petrochemicals.
The merchandise trade surplus narrowed in April to USD 4.1 billion from a USD 6.2 billion surplus in the same month a year prior (March: USD 5.2 billion surplus). The 12-month moving sum of the trade balance also narrowed to a USD 64.3 billion surplus in April from the USD 66.3 billion surplus registered in March.
Commenting on the implications of April’s print analysts at Nomura noted:
“Although better-than-expected April data showed slightly positive signs, their underlying trend [will] likely remain weak, and we believe intensifying economic headwinds should weigh on the economy and inflation for 2019.”
In 2019, Met the why particular panelists expect merchandise exports to expand 2.9% and imports to contract 0.1%, bringing the trade surplus to USD 87.5 billion. In 2020, exports and imports are expected to increase 3.8% and 3.3% respectively, resulting in a trade surplus of USD 93.4 billion.
Korea - Exports Data
|Exports (USD billion)||560||573||527||495||574|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||1.87||1.55 %||May 13|
|Exchange Rate||1,188||0.21 %||May 13|
|Stock Market||2,079||-0.11 %||May 13|
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May 2, 2019
Consumer prices rose 0.4% in month-on-month terms in April, contrasting the 0.2% fall registered in March.
May 2, 2019
The manufacturing Purchasing Managers’ Index (PMI), produced by Nikkei and reported by IHS Markit, recovered in April, rising to 50.2 from 48.8 in March.
May 1, 2019
Merchandise exports fell 2.0% over the same month last year in April to a total of USD 48.9 billion, following the 8.2% contraction logged in March (USD 47.1 billion).
April 30, 2019
Industrial production in the mining, manufacturing, and gas and electricity sectors dipped 2.8% over the same month a year prior in March, following the revised 3.4% decline registered in February (previously reported: -2.7% year-on-year).
April 30, 2019
The Bank of Korea’s forward-looking business confidence indicator (BSI) for manufacturers ticked up to 77 in May from 76 in April, while confidence in the non-manufacturing sector also improved slightly from 76 to 77.