South Korea'S Textile Exports Decreased By 3.9% In 2019 And May.

The Ministry of industry and Commerce resources of Korea announced the "import and export trend" in May (2019) in from May 1st to 31st (from May 1st to 31st Customs Statistics). The export volume of Korea (2019) in May was about 45 billion 907 million dollars, which was 9.4% lower than that in the same month (2018), and the import amount was about 43 billion 636 million US dollars, a 1.9% decrease compared with the same month last year, and the trade surplus was about 2 billion 271 million dollars.

(1) exports: compared with the same month last year, the 13 major export items of Korea (from May 1st to 31st Customs Statistics) in May this year compared with the same month last year, the export of other items declined, the export of household appliances decreased by 1.6%, textile exports decreased by 3.9%, auto parts reduced by 7.5%, steel products reduced by 7.6%, petroleum products reduced by 9.2%, monitors reduced by 13.4%, petroleum chemistry reduced 16.2%, computers reduced by 16.2%, semiconductors reduced by degrees, and wireless communications machines reduced by the same as compared with the same month last year, in addition to the increase in exports of ships, and the increase of 5% in general motors in from May 1st to 31st.

The other 7 new export growth momentum projects were exported, electric vehicle exports increased by 58%, battery exports increased by 5.2% and plastic products increased by 4.8%. The export of living health care decreased by 1.3%, cosmetics exports decreased by 1.8%, agricultural and aquatic products decreased by 2.6% and robots reduced by 12.6%.

Compared with the same month last year, exports to major regions increased by 6%, exports to India increased by 3.6% and Japan increased by 2.1%, while exports to the ASEAN countries (ASEAN) decreased by 4%, exports to central and South America decreased by 6.7%, EU to the EU (EU) decreased by 12.6%, mainland China reduced by 20.1%, and the Middle East decreased 27.8% by the same month compared with the same month last year.

(two) import: import situation in May this year (customs clearance statistics in from May 1st to 31st), intermediate goods and consumption goods increased by 3.4% and 2.7% respectively, and exports of raw materials and capital goods declined by 5.4% and 16.6% respectively.

Among them, the import situation of major energy resources projects (the provisional value of Customs Statistics in from May 1st to 31st) was only 4.1% higher than that of gas imports, while imports of coal, petroleum products and crude oil decreased by 1.8%, 2.5% and 10.8% respectively compared with the same month last year.

According to minister Cheng Yun Mo, Minister of industry and Commerce resources, the situation of export decline in South Korea has gradually improved since February of this year. But recently, the impact of the Sino US trade conflict is becoming more serious and the uncertainty of Brexit in Britain has been slowing down. The government has grasped the current situation. It intends to strengthen the system of responding to the export environment and speed up trade and finance, export marketing and other export strategies. Through export and market diversification, developing more export modes and establishing digital trade infrastructure, the 4 export structures will enhance export competitiveness and provide support for export enterprises.

Canal also pointed out that the "export vitality promotion team 2", which was jointly formed by 8 government departments, was officially launched at the end of May this year. The team will actively visit 5 new fields, including new materials, new export power, core industries, innovation industry and stealth champion enterprises, and more than 3 thousand enterprises to help solve export problems.

Minister Cheng also stressed that although the export environment is deteriorating, it is expected that semiconductor prices will recover, oil prices will stabilize, and the Chinese government will help boost the prosperity policy and the Korean government actively implement the measures to improve export vitality. It is expected that the export boom in the second half of this year will be improved compared with the first half of this year.