South Korea'S Exports Decreased By 0.2% In March, And Imports Dropped By 0.3%.

Beijing time April 1st, data released by the Ministry of industry and Commerce resources of Korea on Wednesday showed that exports in March decreased by 0.2% to 46 billion 910 million dollars compared with the same period last year. Imports dropped by 0.3% to $41 billion 870 million. The trade surplus was US $5 billion 40 million, a favorable balance for 98 consecutive months.

South Korea's Ministry of industry said that although the spread of the epidemic is seriously affecting exports, the export level is quite different from the previous year, and the situation is more optimistic.

Specifically, export growth in October 2019 hit a low level in February, the first rebound in 15 months, and again slightly downward in March. According to the analysis, this is mainly affected by the epidemic, the export unit price fell by 11.7%. On the contrary, exports increased by 13.1%, the highest level in nearly 17 months, and maintained an increasing trend for two consecutive months. The average daily exports continued to decline after February (-11.9%), but the decline was narrowed. (-6.4%)

From the point of view of exports, exports to China decreased year by year, and the ratio rebounded. Exports to the United States and the European Union continued to grow. According to the separation project, with the popularization of face to face habits, the export of information technology products such as computers and wireless communications is better, and the export of consumer goods related to the epidemic also presents a good momentum.

However, with the spread of the epidemic in the world, we are not optimistic about the future export prospects. South Korea's Ministry of industry stressed that in order to avoid a sharp decline in exports, the government will closely monitor and spare no effort to give financial support.