Exports to China have decreased, demand for semiconductors has been sluggish, and South Korea's 11 exports have continued to shrink.

(Bloomberg)

[Financial Channel/Comprehensive Report] The global energy rally continues, leading to South Korea’s trade deficit for eight consecutive months. Coupled with the reduced global demand for semiconductors, South Korea’s exports in November have declined for the second consecutive month.

"Yonhap News Agency" reported that according to statistics from the South Korean Ministry of Trade, following an annual decrease of 5.7% in October, exports in November fell by another 14% to US$51.91 billion (about NT$1.5 trillion). South Korea's imports have continued to exceed This is also the first time since 1997 that South Korea has experienced a trade deficit for eight consecutive months.

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Among them, since August, affected by the inventory adjustment of the semiconductor industry, exports have continued to shrink. In November, semiconductor exports fell by 29.8% to US$8.45 billion (about NT$258.5 billion); petrochemical products also fell by 26.5% to US$3.55 billion (about NT$108.6 billion). ; Exports of steel products decreased by 10.6% to US$2.99 ​​billion (approximately NT$91.5 billion), but automobile exports increased by 31% to US$5.4 billion (approximately NT$165.2 billion), setting a new monthly high.

The report pointed out that due to the slowdown of the global economy, especially the 25.5% reduction in exports to China, coupled with the recent truck driver strike, which led to the interruption of the supply chain of some industries, it is estimated that South Korea’s exports may be hit again.

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