[THE INVESTOR] A slowdown in the world’s second-largest economy is showing no signs of a recovery, as South Korean exports to China marked a record 13th straight month of decline, data showed Aug. 17.
According to data compiled by the Korea International Trade Association, shipments to China, South Korea’s largest trading partner, dropped 9.4 percent on-year to reach US$10.13 billion last month, dropping for a 13th consecutive month.
China, grappling with slow growth, is South Korea’s biggest export destination.
The pace of decline in exports to China has slowed since May with exports dipping 9.1 percent on year during the month, compared with an 18.3 percent slip in April.
In the first six months of this year, exports to China fell 14 percent on-year to $58.3 billion, according to the data.
Semiconductor shipments to China declined 14.3 percent on-year to $1.88 billion in July, while flat-panel shipments also sank 19.4 percent to $1.53 billion over the cited period.
In contrast, exports of petrochemical products and auto parts soared 35 percent and 13 percent, respectively, from a year earlier, the data showed.
