Korea Trade April 2016

Korea

Korea: Contraction in exports extends in April

May 2, 2016

In April, exports totaled USD 41.0 billion, according to the Korea Customs Services. The reading represented an 11.2% year-on-year decrease—marking the 16th consecutive monthly contraction—and was deeper than March’s 8.1% contraction.

Meanwhile, imports totaled USD 32.2 billion in April, which represented a 14.9% contraction over the USD 37.9 billion registered in the same month last year. Imports have been contracting uninterruptedly at a double-digit rate since January 2015.

Korea’s trade surplus totaled USD 8.8 billion in April, which came in below the USD 9.9 billion registered in the previous month. The accumulated trade surplus in the 12 months up to April recorded USD 91.1 billion, which marked a multi-year high.

FocusEconomics Consensus Forecast panelists expect exports to grow 0.7% in 2016 and to expand 2.4% in 2017.


Author:, Senior Economist

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Korea Trade12m April 2016

Note: 12-month sum of trade balance in USD billion and annual average variation of the 12-month sum of exports and imports.
Source: Korea Customs Services (KCS) and FocusEconomics calculations.


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