Exports in Korea

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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

2013  2014  2015  2016  2017  
Exports (USD billion)560  573  527  495  574  

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Bond Yield1.871.55 %May 13
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Stock Market2,079-0.11 %May 13

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