Korea’s Early Exports Fall Further as Global Demand Cools
- Chip exports plunge again while shipments to China decline
- Trade deficit keeps swelling in risk to the economic outlook
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South Korea’s early trade data showed a deepening slump in exports as global demand for semiconductors remains weak and China’s reopening is yet to generate any boost.
Daily shipments decreased 23.1% on average in the first 20 days of March from a year earlier, the customs office said Tuesday. While total exports fell 17.4%, chip sales plummeted 44.7% and shipments to China tumbled 36.2%.