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S. Korea's exports in first 20 days of Sept. up 3.6% y/y

2020-09-21 1 Dailymotion

9월 1∼20일 수출 3.6%↑…일평균 기준 9.8%↓<br /><br />South Korea's exports during the first twenty days of September saw their first on-year increase in six months.<br />But the daily average, which takes into account the number of business days, suggests there's still ways to go until a full recovery.<br />Kim Sung-min reports.<br />South Korea's exports during the first 20 days in September edged up for the first time in six months,...following an improvement in semiconductor and automobile shipments.<br />According to Korea Customs Service on Monday, the country's exports from September 1st to 20th amounted to some 29-point-6 billion U.S. dollars,...up 3-point-6 percent on-year.<br />Semiconductors jumped 25-point-3 percent while automobiles surged almost 40 percent.<br />By country, shipments to the U.S. increased the most, up 16 percent, followed by China while exports to Japan plunged by some 18 percent.<br />However, these figures do not mean the country's exports have fully recovered.<br />South Korea's daily average exports were still some 9-point-8 percent lower compared to the same period last year.<br />That came as there were two more operating days in this year's period.<br />"In fact, the best scenario is that export figures level out. It would be difficult to expect the country's exports to make a clear V-shape recovery. It is at the stage of improving slowly."<br />However, experts do forecast that export figures will not get worse like they did at the start of the pandemic.<br />Meanwhile, many South Korean exporters predict that the business environment for them over the next three months will be similar to the current situation.<br />The latest export business survey index announced by the Korea International Trade Association stood at 100-point-2, indicating that businesses assume the environment will be similar to that of the previous quarter.<br />The report also said external factors like the ban on the Chinese tech giant Huawei could be a variable for the rest of the year.<br />Kim Sung-min, Arirang News<br />

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