Robert Besser
26 Jan 2023, 19:11 GMT+10
SEOUL, South Korea: Korea Customs Service data released this week showed that South Korean exports for the first 20 days of January fell 2.7 percent from 2022.
However, this pace was still slower than that recorded in December, when South Korean exports fell 9.0 percent year-on-year during the first 20 days and declined 9.6 percent for the full month due to cooling global demand caused by aggressive policy tightening aimed at curbing inflation.
During the first 20 days of January, exports to China dropped by 24.4 percent and those to the US increased by 18.1 percent, while imports during the same period rose by 9.3 percent year-on-year, bringing South Korea's trade deficit to $10.26 billion, the data showed.
In December, the country's trade deficit was $4.69 billion.
After a 6.1 percent gain in 2022, the South Korean government predicts overseas sales in 2023 to fall 4.5 percent, but the trade ministry pledged to achieve growth in exports.
Get a daily dose of China National News news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to China National News.
More InformationWashington, D.C.: This week, the U.S. Court of Appeals for the Federal Circuit suspended 96-year-old Judge Pauline Newman from hearing ...
NEW YORK: On Tuesday, former U.S. Congressman Stephen Buyer was sentenced to 22 months in prison for trading on inside ...
NEW YORK: This week, the Virginia-based Students for Fair Admissions, founded by affirmative action opponent Edward Blum, sued the U.S. ...
LONDON, U.K.: Jet engine maker CFM International said this week that thousands of engine components may have been sold with ...
BATAM, Indonesia: Due to mounting geopolitical tensions and protests against China's activities in the South China Sea, ASEAN member nations ...
FREMONT, California: This week, brain-chip startup Neuralink, owned by billionaire Tesla CEO Elon Musk, said an independent review board granted ...
TOKYO, Japan: This week, Toshiba revealed that a tender offer worth US$14 billion from Japan Industrial Partners (JIP) was a ...
BEIJING, China: In a country where weddings are traditionally grand and expensive events, China's wedding industry, estimated at some US$500 ...
HONG KONG: The Chinese Foreign Ministry has issued a request to all foreign consulates in Hong Kong, seeking the personal ...
CALGARY, Canada: From early 2024, the long-delayed and controversial Canadian government-owned Trans Mountain oil pipeline expansion (TMX) is expected to ...
SEOUL, South Korea: Thousands of South Korean educators and school staff gathered in Seoul over the weekend to demand increased ...
CHRISTCHURCH, New Zealand In a heartfelt tribute to the victims of the tragic 2019 Christchurch attacks, the Australian Federal Police ...