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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
SOUTH KOREA
The trend move lower in South Korean export growth continued for the first 20-days of November. In y/y terms exports were down -16.7%, while the daily average number was only slightly better at -11.3% y/y. Chips exports are nearly down 30% y/y, while exports to China continued to fall, see the chart below. Momentum is back towards 2019 lows for exports to China.
- Imports were also down in y/y (-5.5%), while the first 20-days trade deficit printed at -$4.42bn. This number should be slightly better for the full month, as we can see improvement in the final 10-days of the month.
Fig 1: South Korea Export Growth Continues To Lose Momentum
Source: MNI - Market News/Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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