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SOUTH KOREA: Weak Trade Data Puts Focus Back on BOK.

SOUTH KOREA
GlobalEM BulletBulletSouth KoreaAPACEmerging Market NewsRegion

 

  • South Korean exports for the first 20 days of October slumped to -2.9% YoY.
  • South Korean imports recorded a dramatic decline for October down -10.1%.
  • The decline in exports is worrying and the accompanying trade deficit was impacted by declines in oil products and wireless communication devices despite chip exports remaining robust.
  • Whilst for now chip exports remain a key support to Korean trade, there are signs that global demand for chips could be at peak, which presents downside potential for the economy. 
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  • South Korean exports for the first 20 days of October slumped to -2.9% YoY.
  • South Korean imports recorded a dramatic decline for October down -10.1%.
  • The decline in exports is worrying and the accompanying trade deficit was impacted by declines in oil products and wireless communication devices despite chip exports remaining robust.
  • Whilst for now chip exports remain a key support to Korean trade, there are signs that global demand for chips could be at peak, which presents downside potential for the economy.