Exports Fall Again After Quick Rebound
12 March, 2020
Korea's daily exports fell 2.5 percent on-year in the first 10 times of this month amid the coronavirus outbreak.
If the trend continues, exports will shrink for another month after a short rebound in February for the very first time in 15 months.
The Korea Customs Service on Wednesday said exports totaled US$13.34 billion from March 1 to 10, an increase of $2.4 billion from the same period this past year. But it was generally because there have been 1.5 extra business days this season. Every day, exports declined 2.5 percent to $1.78 billion typically.
Future prospects are bleak. At the end of previous year, the federal government had anticipated exports to pick up from February. But the outbreak started to take its toll on Korea’s market and trade since overdue January. As it spread rapidly around the world, exports will probably suffer further.
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