S Korea Exports Sink For Seventh Month, China Sales Slump

[beijingwalker]

S Korea Exports Sink For Seventh Month, China Sales Slump​

May 1, 2023

Exports to China tumbled 26% for their 11th consecutive month of declines, while those to the US fell 4.4% but shipments to the European Union rose 9.9%​

A truck drives between containers at a terminal at Incheon port, in this file photo from 2016. A slump in exports to China and continuing trade pressure from weak global demand. Photo: Reuters.

South Korea’s exports declined for a seventh straight month in April, their longest plunge in three years.

The two factors behind this are the slump in sales to China and continuing trade pressure from weak global demand.

The downturn comes despite the reopening in December of the Chinese economy – a major market for South Korean goods, notably for computer chips.

The economic slump is a challenge for policymakers as they push for a robust post-Covid revival.

Exports to China down by 26%
Overseas sales by Asia’s fourth-largest economy fell by more than 14% year-on-year to $49.6 billion in April, trade ministry data showed on Monday.

That followed a 13.6% fall in February and compared with a 13.5% drop tipped in a Reuters survey.

It was the worst decline in three months, and reinforced the recent signs of a domestic economy struggling to fire on all cylinders in the wake of slowing global growth.

A breakdown of the data showed exports to China tumbled 26.5% for their 11th consecutive month of declines, while those to the United States fell 4.4% in their first shrinking month in three. Shipments to the European Union rose 9.9%.

By product, semiconductor exports dived 41%, extending their losses to the ninth straight month. Petroleum products fell 27.3%, but automobiles jumped 40%.

The trade ministry said in a statement that the fall was due to a delay in global economic recovery and weakness in the semiconductor industry, while there were also fewer working days and high base effects.
Imports in April fell 13% to $52.23 billion following a 6.4% fall in March, also faster than a 10.6% decline expected by economists. It was the biggest drop since August 2020.

As a result, the country posted a trade deficit of $2.62 billion in April, the 14th month in a row that the export-reliant economy suffered a monthly trade deficit, though it was the smallest since June.

S Korea Exports Sink For Seventh Month, China Sales Slump

Exports to China tumbled 26% for their 11th consecutive month of declines, while those to the US fell 4.4% but shipments to the EU rose 9.9%.

www.asiafinancial.com

 

[beijingwalker]

 

[Foinikas]

And why the f are you posting this?

 

[beijingwalker]

And why the f are you posting this?

F off

 

[Foinikas]

F off

I asked you a question. Why are you posting this thread?

 

[beijingwalker]

I asked you a question. Why are you posting this thread?

What do you think you are? asking me? just f off

 

[Foinikas]

What do you think you are? asking me? just f off

I'm just asking a simple question,as a member of this forum. Why did you post this thread? What was the reason?

 

[beijingwalker]

I’d bust your jaw open if I see you in Beijing...

lol,come and try. keyboard warrior.

I'm just asking a simple question,as a member of this forum. Why did you post this thread? What was the reason?

I don't want to talk to you, you disgust me, is it good enough?

 

[beijingwalker]

What you gonna do with your 5'5 fat a$$ lmao gimme a break...

You talk big man, do you even know it's the cheapest thing to do on the internet?

 

[beijingwalker]

Says the dummy with 60K posts lmaoo. And I'm definitely big 6'4! My dyck is bigger than your arm and that's a fact

But not like to wanting "physically" beating people on the internet, so dumb, low IQ

 

[Foinikas]

I don't want to talk to you, you disgust me, is it good enough?

You can't answer. Why did you post this thread? What is the reason? Why did you post it? Just a simple question.

 

[S10]

I’d bust your jaw open if I see you in Beijing...

You ain't gonna do shit because you're a retarded little bitch pretending to be tough on the internet.

 

[beijingwalker]

South Korea finance minister: South Korea, Japan, China cooperation more important as world economy at inflection point​

Reuters
Tue, May 2, 2023 at 7:33 AM GMT+8·1 min read

G20 finance ministers, central bankers and senior officials meet in Bali

INCHEON, South Korea (Reuters) - South Korea's finance minister said on Tuesday that the trilateral cooperation between South Korea, Japan and China has became more important as the global economy stands at an inflection point.

Minister Choo Kyung-ho said such cooperation would not only help the three countries, which account for more than 20% of the world economy, but also the Asian region and the world, during his opening remarks at a trilateral meeting of finance ministers and central bank governors.

The countries' economic leaders met on the sidelines of the Asian Development Bank's annual meeting of the board of governors held in Incheon, South Korea.

South Korea finance minister: South Korea, Japan, China cooperation more important as world economy at inflection point

South Korea's finance minister said on Tuesday that the trilateral cooperation between South Korea, Japan and China has became more important as the global economy stands at an inflection point. Minister Choo Kyung-ho said such cooperation would not only help the three countries, which account...

finance.yahoo.com

 

[S10]

You can't answer. Why did you post this thread? What is the reason? Why did you post it? Just a simple question.

Is this not the China and Far East section? Last time I checked that included South Korea.

 

[Viet]

And why the f are you posting this?

That’s ok bro.
That’s the long term trend. Almost all exports from all major countries to China go downhill.
There is no to little exception. Germany’s exports to China go down too. For Korea the rescue is exporting more to ASEAN. Same for US, Japan, EU. ASEAN will become the major importer.