Disappointment: Seoul’s exports weaker than expected
Exports of wireless telecom equipment such as mobile phones surged 34.5% on-year.
SEOUL:
South Korea’s exports were weaker than expected in February as an upswing in developed economies was slow to come while emerging markets were suffering from financial uncertainties, the trade ministry said Saturday. Exports for the month came to $42.99 billion, up 1.6% from a year earlier, while imports were $42.06 billion, up 4.0%, leaving a $930 million trade surplus. “The recovery in developed economies remains feeble while emerging markets continue suffering from a financial crunch, resulting in the weaker-than-expected exports”, it said. Exports of wireless telecom equipment such as mobile phones surged 34.5% on-year, as shipments of semiconductors were up 14.5% and autos up 9.1%. But exports of petroleum products slumped 15.4% and those of ships sunk seven percent.
Published in The Express Tribune, March 2nd, 2014.
South Korea’s exports were weaker than expected in February as an upswing in developed economies was slow to come while emerging markets were suffering from financial uncertainties, the trade ministry said Saturday. Exports for the month came to $42.99 billion, up 1.6% from a year earlier, while imports were $42.06 billion, up 4.0%, leaving a $930 million trade surplus. “The recovery in developed economies remains feeble while emerging markets continue suffering from a financial crunch, resulting in the weaker-than-expected exports”, it said. Exports of wireless telecom equipment such as mobile phones surged 34.5% on-year, as shipments of semiconductors were up 14.5% and autos up 9.1%. But exports of petroleum products slumped 15.4% and those of ships sunk seven percent.
Published in The Express Tribune, March 2nd, 2014.