The United States' trade deficit with Korea came to $34.08 billion in the first half of 2024, raising concerns that a win for former President Donald Trump might mean retaliatory policies.
Korea's exports fell 1 percent on-year in the first 20 days of January, with exports of chips, ships and automobiles increasing but wireless communication devices and petroleum product exports decreasing
China has surpassed Germany as the top EV exporter to Korea. Chinese-made Teslas and electric buses have contributed to the increase in sales.
The won slipped below the 1,300 mark on Wednesday for the first time since late March, thanks to a slowing trade deficit and expectations that the Federal Reserve will likely pause rate hikes next week.
May’s trade deficit came in at $2.1 billion, putting the country in the red for 15 months in a row, according to the Ministry of Trade, Industry and Energy on Thursday.
The travel deficit for the first quarter this year came in at $3.24 billion, the highest since the third quarter in 2019 at $3.28 billion, according to the Bank of Korea Tuesday. It was also the highest first-quarter data since 2018.
Korea's outbound shipments in the first 20 days of May fell 16.1 percent on year, dragged down by a prolonged global chip slump. The country's exports stood at $32.4 billion between May 1 and May 20, compared with $38.6 billion a year earlier...
The won fell to 2023 lows against the dollar as inflation remains high and ahead of a rate-setting meeting in the United States.
Korea continued to report a trade deficit for 13 consecutive months in March, weighed down by the combination of plunging chip demand and a slowing global economy. The monthly trade deficit came in at $4.62 billion, compared to January's record...
Korea logged an on-year decline in exports for the fifth consecutive month in February, weighed down by weak chip demand and a slowing global economy.
Korea JoongAng Daily Sitemap
