South Korea 1st 20 days of June exports -7.5% y/y

Forex

South Korea’s Customs officials with the data

  • Exports -7.5% y/y
  • Imports for the first 20 days are -12.0% y/y
  • Exports per working day are -16.2% y/y

Recovery in global trade will be a slow process. Demand is down right across the planet.

One brighter note is that exports to Chin are +14.5% y/y 

  • and exports of semiconductors is +2.6% y/y

SK is viewed as a ‘canary in the coal mine’ for global trade, that is, a leading indicator. 

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