South Korea's exports fell into a trade deficit due to a drop in exports of semiconductor products.

(Associated Press)

[Financial Channel/Comprehensive Report] According to statistics from the South Korean General Administration of Customs, South Korea’s exports in the first half of March (3/1~3/10) decreased by 16.2% compared with the same period last year. The main reason is that the global demand for semiconductor products is weak. During this period, semiconductor exports fell by 40% annually, causing South Korea's trade deficit to expand to US$4.9 billion (approximately NT$149.7 billion).

"Korea JoongAng Ilbo" reported that South Korea's semiconductor exports fell by 42.5% in February, and remained at a level of about 40% in early March. As for oil and steel product exports, they also fell by 21.6% and 13.9% respectively.

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If analyzed by exporting countries, South Korea’s exports to China, its largest trading partner, have fallen by 35.3%. As of February, South Korea’s exports to China have fallen for nine consecutive months, indicating that even though China gradually relaxes epidemic prevention restrictions, purchases of South Korean semiconductor products have not resumed. previous standards.

According to previous reports by Korean media, South Korea’s semiconductor exports in February were only US$5.96 billion (approximately NT$182.1 billion), and the inventory hit a 26-year high of 265.7%.

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