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Causes of recent sluggish exports in Korea and future prospects

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Frame of Image chemical goods and home appliances dropped significantly by -20.4% and -18.8% respectively. In addition, steel exports, which
Causes of Recent Sluggish Exports in Korea and Future Prospects
The export growth rate, which decreased by 0.9% in the fourth quarter of last year, further decreased by 2.9% in the first quarter of this year, and the extent of the decrease has expanded to record -8.0% in April and -10.9% in May. Export amounts reached a peak of 51.6 billion dollars in October last year, but considerably decreased to 42.4 bilincreased considerably last year, fell about 10% this year and exports of textile, display and automobiles decreased significantly by roughly 10%. As such, exports of semiconductors and ships continue to be on the increase following last year, and exports of computers have risen significantly, unlike key industries whose exports have decreased.
Figure 1.
60 55 50 45 40 35 30
Recent Trend in Korea’s Export
(Export, Billion USD) (Export Growth Rate, %)
15 10 5 0 -5 -10 -15
2013.1
4
7
10
2014.1 Exports
4
7
10
2015.1
4
Export Growth Rate
26
Table 1.
Export Growth Rates by Each Industry
Unit : %, 100 million USD
2014 2015 (1~5) (Variation) - 89 - 41 - 18 - 12 - 12 - 10 -7 -7 -1 1 4 16 34 - 132 Export amounts Export growth rate Export amounts Export growth rate
Petroleum Products Petrochemical Automobile Steel Products Home Appliances Flat Panel Display Textile Automobile Parts Wireless Communications Devices General Machinery Computer Semiconductor Ship


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Title Causes of recent sluggish exports in Korea and future prospects
Similar Titles
Material Type Articles
Author(English)

Korea Institute of Economic & Trade

Author(Korean)

Shin, Hyunsoo

Publisher

[Sejong]:Korea Institute for Industrial Economics & Trade (KIET)

Date 2015-06
Journal Title; Vol./Issue KIET Industrial Economic Review:vol. 20(no. 3)
Pages 10
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Trade
Holding KIET; KDI School