[Seoul 21st Reuters]-According to statistics released by the Korean customs authorities, exports from October 1-20 fell 19.5% year-on-year. Declining exports to China and the global downturn in demand for semiconductors were affected.
This was much lower than the September export, which recorded a 11.7% decline. Economists pointed out that the domestic manufacturing industry has a tough future. He expressed his view that the semiconductor industry will influence the future outlook.
“Semiconductors account for the largest part of exports, so we need to look at trends in the semiconductor industry to determine the recovery of exports,” said Societe Generale economist Oh Suk-tae. It seems like, but it ’s unclear when it ’s going to make a big upturn and how fast it will recover. ”
The total semiconductor exports from October 1-20 decreased by 28.8% compared to the same period of the previous year due to a significant price drop from the end of last year. Semiconductors account for about 20% of total exports.
Exports to China decreased 20.0% year-on-year. Sales to the United States decreased by 17.4% and those for the European Union (EU) decreased by 36.6%.