{"id":25570,"date":"2023-04-27T05:03:16","date_gmt":"2023-04-27T05:03:16","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/south-korea-exports-set\/"},"modified":"2023-04-27T05:37:46","modified_gmt":"2023-04-27T05:37:46","slug":"south-korea-exports-set","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/south-korea-exports-set\/","title":{"rendered":"South Korea exports set for longest falling streak in over three years- Reuters poll"},"content":{"rendered":"

By Jihoon Lee<\/p>\n

SEOUL (Reuters) – South Korea’s exports likely fell in April for a seventh consecutive month and their longest falling streak in more than three years, a Reuters survey showed on Thursday, highlighting frail overseas demand as the world economy slows.<\/p>\n

Outbound shipments were expected to have fallen 13.5% in April from a year earlier, according to the median estimate of 10 economists in the survey, almost unchanged from the 13.6% drop in March.<\/p>\n

Such a contraction would extend a year-on-year run of losses to a seventh month and mark the longest falling streak since January 2020. <\/p>\n

“Exports’ recovery is being delayed due to persistent weakness in China-bound shipments and semiconductor exports,” said economist Park Sang-hyun at HI Investment Securities. <\/p>\n

“Although there has not yet been any sign of a rebounding momentum, the recovery is likely to begin modestly near the end of this quarter or from the next quarter.” <\/p>\n

In the first 20 days of this month, South Korea exported goods worth 11.0% less than a year earlier. Exports to China dropped 26.8% and semiconductor shipments tumbled 39.3%, each set for an 11th and 10th straight loss.<\/p>\n

The country’s imports likely fell 10.6% in April year-on-year, according to the survey, accelerating from a 6.4% decline in March and suffering their sharpest drop since August 2020.<\/p>\n

Overall, South Korea is expected to post a 14th consecutive monthly trade deficit. The median expectation of economists in the survey was a deficit of $2.89 billion, which would mark the smallest since June.<\/p>\n

Full monthly trade data is scheduled for release on Monday, May 1, at 9 a.m. (0000 GMT).<\/p>\n

On factory output, economists estimated seasonally adjusted production to have risen by 0.5% in March from February, when it recorded a 3.2% loss. The data will be released on April 28.<\/p>\n

The survey also found a median 3.8% year-on-year rise in the country’s consumer price index for April, which is due on May 2, marking the slowest annual gain in 14 months.<\/p>\n

\n

(Reporting by Jihoon Lee in Seoul, Polling by Anant Chandak and Madhumita Gokhale in Bengaluru; Editing by Shri Navaratnam)<\/p>\n

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By Jihoon Lee SEOUL (Reuters) – South Korea’s exports likely fell in April for a seventh consecutive month and their longest falling streak in more than three years, a Reuters survey showed on Thursday, highlighting frail overseas demand as the world economy slows. Outbound shipments were expected to have fallen 13.5% in April from a […]<\/p>\n","protected":false},"author":8,"featured_media":25571,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1216],"tags":[],"class_list":["post-25570","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-economy"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportEconomy\/tagreuters.com2023binary_LYNXMPEJ3Q04E-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/25570","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=25570"}],"version-history":[{"count":1,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/25570\/revisions"}],"predecessor-version":[{"id":25572,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/25570\/revisions\/25572"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/25571"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=25570"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=25570"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=25570"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}