South Korea’s Export Slump Worsens as Chip Demand Wanes
- Semiconductor exports continue to struggle, falling 34%
- S.Korea posts second month of trade surplus in sign of hope
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South Korea’s slump in exports worsened in July as semiconductor demand further deteriorated, undermining hopes for a bottoming-out in trade.
Overall shipments decreased 16.5% from a year earlier, according to data released Tuesday by the trade ministry. That compares with economists’ forecasts for a 15% decline. Exports of semiconductors slumped 34% in particular, worse than the 28% decline in the previous month.