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Early January Export Data Up 11.2% Y/Y

SOUTH KOREA

The first 10-days of January trade data for South Korea showed further improving trends for export growth.

  • We were up 11.2%y/y terms and there was no difference with the daily average print. Chip exports were +25.6%, car exports +2.2%. By country exports to China rose 10.1% and remained firmed to the US, +15.3%.
  • Note full month exports for Dec were up 5.1% in y/y terms.
  • Imports for the first 10-days were down -8.3% y/y. The trade deficit was still just over $3bn, but this tends to improve as the full month progresses.
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