On Sunday, the 1st of December 2019, data revealed by South Korea’s trade ministry had added further strains on to a battered South Korean economy, as S. Korea’s exports fell for the straight twelve months in November and by far more than anticipated, diminishing hope of a stable manufacturing sector amid a re-escalated Sino-US trade tension.
Besides, according to S. Korea’s trade ministry data that revealed on Sunday (December 1st), South Korea’s exports faltered by 14.3 per cent in November on a year-on-year basis, missing an analysts’ forecast of 10.2 per cent by a much-wider distance, as alongside a protracted trade row between Beijing and Washington, a flamed up trade relationship between S.
Korea and its noisy neighbour, Japan, had forged a double whammy on Seoul’s exports data. Aside from that, November data had also remarked South Korea’s second-worst drop in exports in roughly four years, as global semiconductor market had turned a tail to China following its tottered trade relationship with the United States and S.
Korea’s biggest export market China, kept slashing purchases from its smaller neighbour, while S. Korea’s top export time, Semiconductor price took a tattering header of 30.8 per cent in value. Meanwhile, casting further holocaust on S.
Korea’s economy which appeared to have become a collateral amid a Sino-US trade war after being failed to pick a side, an economist at Hana Financial Investment, Chun Kyu-yeon said on Sunday (December 1st), “The optimism for the first-phase trade deal between the United States and China will take time before actually boosting exports, and today’s poor data means the turnaround in exports is taking longer than expected. ”