Korea's exports decline 7.5% in February
2023-03-02
and the high base effect caused by last year’s high steel prices. Bio-health exports (down 32.1 percent to $1.1 billion) faltered despite sound growth of shipments of biosimilars and contract manufacturing organization (CMO) as demand for vaccines and test kits is rapidly diminishing as the endemic is settling in. By region, exports to the U.S. (up 16.2 percent), EU (up 13.2 percent), Middle East (up 20.2 percent) and India (up 11.0 percent) advanced, while those to China (down 24.2 percent), ASEAN (down 16.1 percent), Japan (down 4.9 percent), and Latin America (down 19.1 percent) retreated.* Short ...
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