You are here

South Korea's March 1-20 exports rise, but virus-led demand slump seen weighing

AB_exports_230320.jpg
South Korean exports rose 10.0 per cent in the first 20 days of March from a year earlier, customs data showed on Monday, though a deepening slump in overseas demand triggered by the coronavirus pandemic is expected to weigh on the full-month data.

[SEOUL] South Korean exports rose 10.0 per cent in the first 20 days of March from a year earlier, customs data showed on Monday, though a deepening slump in overseas demand triggered by the coronavirus pandemic is expected to weigh on the full-month data.

Average exports per working day slid 0.4 per cent during the period when eliminating the calendar effect. There were 1.5 more working days compared with the same period last year.

Exports to China, where the virus originated, rose 4.9 per cent on-year in the 20-day period, the Korea Customs Service data showed. China is South Korea's largest trading partner which takes in a quarter of total overseas sales.

Outbound shipments of semiconductors, the nation's major export, jumped 20.3 per cent.

REUTERS

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes