{"id":14749,"date":"2020-08-02T21:54:23","date_gmt":"2020-08-02T18:54:23","guid":{"rendered":"https:\/\/www.al-sindbad.net\/south-koreas-july-exports-record-slowest-decline-in-four-months\/14749\/"},"modified":"2020-08-02T21:54:23","modified_gmt":"2020-08-02T18:54:23","slug":"south-koreas-july-exports-record-slowest-decline-in-four-months","status":"publish","type":"post","link":"https:\/\/www.al-sindbad.net\/south-koreas-july-exports-record-slowest-decline-in-four-months\/14749\/","title":{"rendered":"South Korea’s July Exports Record Slowest Decline in Four Months"},"content":{"rendered":"

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South Korean exports fell the slowest in four months and beat market expectations, data showed on Saturday, a further sign a recovery in Asia\u2019s fourth-largest economy is gaining traction, although threats loom from global flare-ups in the COVID-19 pandemic.<\/p>\n

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Overseas sales fell 7.0% in July from a year earlier, the trade ministry said, the fifth month of decline but much less than June\u2019s 10.9% fall and the 9.7% drop tipped in a Reuters survey.<\/p>\n

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South Korea is the first major exporting economy to release monthly trade data, providing an early guide to the health of global trade.<\/p>\n

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Saturday\u2019s data come a day after the country\u2019s factory output, which trails trade and some other data by a month, jumped at the fastest rate since 2009 and much quicker than expected, supporting hopes that the worst of the coronavirus impact has passed.<\/p>\n

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\u201cExpectations of an improvement in exports in the second half are materialising,\u201d though the pace of recovery is likely to be mild, said Park Sang-hyun, chief economist at HI Investment & Securities.<\/p>\n

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The trade-reliant economy has slipped into recession, joining Japan, Thailand and Singapore, in the second quarter despite some 277 trillion won ($232 billion) worth of stimulus rolled out since the outbreak.<\/p>\n

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Exports to China, South Korea\u2019s biggest trading partner, rose 2.5% from a year earlier and for a second month. Those to the United States jumped 7.7%, reversing previous contractions, but sales to the European Union continued to fall, down 11.1%.<\/p>\n

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Shipments of semiconductors, the nation\u2019s top export, climbed 5.6%, while those of computers and ships surged 77.1% and 18.0%, respectively.<\/p>\n

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Imports dropped 11.9%, sharper than the previous month\u2019s 11.2% and the forecast 11.5% fall. That resulted in a $4.27 billion trade surplus, expanded from $3.63 billion in June.<\/p>\n

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\u201cThe global coronavirus spread seems to be the most important variable (in South Korean trade), while renewed tension between the United States and China could add pressure,\u201d Park added<\/p>\n

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(Reporting by Joori Roh; Editing by William Mallard)<\/em><\/p>\n

maritime professional<\/p>\n","protected":false},"excerpt":{"rendered":"

South Korean exports fell the slowest in four months and beat market expectations, data showed on Saturday, a further sign a recovery in Asia\u2019s fourth-largest economy is gaining traction, although threats loom from global flare-ups in the COVID-19 pandemic. Overseas sales fell 7.0% in July from a year earlier, the trade ministry said, the fifth …<\/p>\n","protected":false},"author":1,"featured_media":14750,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[64],"tags":[3644,2469,6573,6664,2123,2647,9653,1623],"class_list":["post-14749","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-maritime-news","tag-decline","tag-exports","tag-july","tag-koreas","tag-months","tag-record","tag-slowest","tag-south"],"_links":{"self":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/14749","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/comments?post=14749"}],"version-history":[{"count":0,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/14749\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media\/14750"}],"wp:attachment":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media?parent=14749"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/categories?post=14749"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/tags?post=14749"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}