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Free AccessFirst 10-Days Of May Trade Still Shows Negative Y/Y Export Growth
The first 10-days of trade data for May in South Korea showed exports down 10.1% y/y. Note the average daily export figure was the same at -10.1%. Imports fell -5.7% y/y. The trade deficit was -$4.17bn, although it tends to improve as the month progresses. Note the full month of April exports were down -14.2% y/y, imports -13.2%, while the trade deficit was at -$2.62bn.
- In terms of the detail, car exports were +125.8, while car parts +7.8%. Chip exports remained negative at -29.4%.
- By country, US exports, +8.9%, and the EU at +11.5% displayed better trends relative to China -14.7%. This is less of a fall in China in y/y terms compared to recent months, but it's difficult to read too much into trends from the first 10 days of trade data.
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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.