S Korean exports continue to decline on cooling global demand, economic riskBloombergSouth Korea’s exports continued to decline last month in a sign of cooling global demand as higher interest rates weigh on consumption. Photo: ReutersSouth Korean exports are a major barometer of global commerce and tech demand as the nation produces key items such as chips, displays and refined oil. South Korean exports last year increased 6.1 percent, while imports rose 18.9 percent. Exports would likely fall 4.5 percent this year and imports could decline 6.4 percent, the South Korean Ministry of Economy and Finance said. Exports to China fell 27 percent year-on-year last month, while shipments to the US increased 6.7 percent, the trade ministry said.

Source: Taipei Times January 01, 2023 19:01 UTC