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[THE INVESTOR] South Korean exports to China decreased 9 percent on-year in September, the 15th consecutive month of decline, data showed on Oct. 21.
Shipments to China stood at US$10.96 billion in September, compared with US$12.04 billion for the same month last year, according to the data from the Korea International Trade Association.
China, grappling with slow growth, is South Korea’s biggest export destination, and the neighboring country is seeking to boost demand for its own products on its soil, which reduces demand for South Korean goods.
Due to sluggish exports, China’s portion in South Korea’s exports dropped to 24.7 percent this year, from last year’s 26 percent.
By item, exports of semiconductors dropped 13.4 percent on-year to reach $2.27 billion in September, with shipments of flat panels plunging 5 percent to $1.74 billion over the cited period. In particular, exports of telecommunication equipment sank 45 percent on-year last month to $657 million, the data showed.
(theinvestor@heraldcorp.com)
Shipments to China stood at US$10.96 billion in September, compared with US$12.04 billion for the same month last year, according to the data from the Korea International Trade Association.
China, grappling with slow growth, is South Korea’s biggest export destination, and the neighboring country is seeking to boost demand for its own products on its soil, which reduces demand for South Korean goods.
Due to sluggish exports, China’s portion in South Korea’s exports dropped to 24.7 percent this year, from last year’s 26 percent.
By item, exports of semiconductors dropped 13.4 percent on-year to reach $2.27 billion in September, with shipments of flat panels plunging 5 percent to $1.74 billion over the cited period. In particular, exports of telecommunication equipment sank 45 percent on-year last month to $657 million, the data showed.
(theinvestor@heraldcorp.com)
