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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Korea's exports decline 14.0% in November 2022-12-01

COVID lockdowns. As OLED business transition is gaining traction, displays exports (down 15.6 percent to $1.8 billion) diminished due to multiple factors, including a reduction in domestic LCD production caused by the intensifying price competition. With COVID now in the endemic phase, bio-health exports (down 27.3 percent to $1.0 billion) dropped in accordance with shrinking demand for vaccines and test kits, and the general fall in unit prices from heated competition. Home appliances (down 25.0 percent to $0.6 billion) experienced a decline owing to sluggish demand despite the Qatar World Cup effect and Black Friday special prices. By destination, exports to the U.S. (up 8.0 percent ...

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Korea's exports fall 5.7% in October 2022-11-01

real estate stagnation more than offset overall exports. New industries like EVs and secondary batteries (up 16.7 percent to $0.8 billion) grew in outbound shipments, whereas lessening demand for COVID test kits drove down bio health exports (down 18.7 percent to $1.1 billion). By destination, shipments to the U.S. (up 6.6 percent to $8.6 billion) and EU (up 10.3 percent to $5.6 billion) expanded, and those to China (down 15.7 percent to $12.2 billion), ASEAN (down 5.8 percent to $9.2 billion), Japan (down 13.1 percent to $2.3 billion), Latin America (down 27.0 percent to $1.8 billion), India (down 0.3 percent to $1.4 billion) and the GCC (down 6.5 percent to $1.4 billion) contracted.* ...

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