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Korea's exports dip 10.3 pct in 2019 on weak chip sales, trade rows

All News 09:01 January 01, 2020

SEOUL, Jan. 1 (Yonhap) -- South Korea's exports fell 10.3 percent in 2019 after setting a record high performance the year before, due mainly to a slump in the global chip market coupled with the trade feud between the world's top two economies, data showed Wednesday.

Outbound shipments came to US$542.4 billion last year, compared with $604.8 billion posted a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy.

Imports moved down 6 percent on-year to $503.2 billion.

The trade surplus came to $39.1 billion in 2019, marking the 11th consecutive year the country has posted a surplus.

For December, the monthly exports slipped 5.2 percent on-year to extend their slump to a whopping 13th consecutive month at $45.7 billion.

Imports fell 0.7 percent on-year last month to $43.7 billion. The country's trade surplus came to $2 billion in December, marking 95 straight months in which the country's exports have exceeded imports.

Korea's exports dip 10.3 pct in 2019 on weak chip sales, trade rows - 1

colin@yna.co.kr
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