[Seoul 1st Reuters]-Exports in August announced by the South Korean government declined 13.6% from the previous year, losing 9 months in a row. The slowdown in demand from China, the largest export partner, and the decline in global computer chip prices.
Exports in August coincided with the median market forecast compiled by Reuters. The double-digit negative is the third consecutive month.
This further exacerbates South Korea's growth prospects and strengthens the claim that the central bank should implement additional monetary easing.
Lee Sang-jae, an economist at Eugene Investment Securities, said, “Signs of increased export momentum as trade disputes between the US and China continue and Japan's export regulations and political turmoil in Hong Kong worsen business conditions. I can't see it. "
Semiconductors, which account for one fifth of all exports, fell 30.7%. Exports excluding semiconductors fell only 8.7%.
Imports declined 4.2% year-on-year, close to the 4.0% decline predicted by Reuters.
The trade balance in August was a surplus of $ 1,720 million. July had a surplus of $ 2.4 billion.