S.Korea Oct 1-20 exports plunge on weak China sales, poor chips demand

Date: Monday, October 21, 2019
Source: Reuters

SEOUL, Oct 21 (Reuters) - South Korean exports plunged 19.5% over the first 20 days of October from a year earlier, led by weak sales to China and poor global sales of semiconductors, data showed on Monday, clouding the trade-reliant economy’s outlook.

Exports to China dropped 20.0% for the Oct. 1-20 period from the comparable period last year, while shipments to the United States fell 17.4%, the customs agency data showed. Sales to the European Union tumbled 36.6%.

Global shipments of semiconductors, the largest single export item for Asia’s fourth-largest economy, fell 28.8% in value for the 20-day period on-year, the data showed. (Reporting by Choonsik Yoo; Additional reporting by Hayoung Choi; Editing by Tom Hogue)

 

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