Korea: Exports fall at slower pace in July
August 3, 2020
Merchandise exports fell 7.0% year-on-year in July, less steep than the 10.9% year-on-year fall in June, to total USD 42.8 billion (June: USD 39.2 billion). The softer decline in July was partly due to strong exports of electronics such as computers and servers. Merchandise imports declined 11.9% in July, after falling 11.2% in June, totaling USD 38.6 billion (June: USD 35.6 billion).
The merchandise trade surplus widened to USD 4.3 billion in July, up from USD 2.3 billion in July 2019. The 12-month moving trade surplus rose to USD 33.7 billion in July from USD 31.7 billion in June.
Author: Edward Gardner, Economist