🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

S.Korea April exports down 19 pct, beat forecasts

Published 04/30/2009, 09:04 PM
Updated 04/30/2009, 09:08 PM

SEOUL, May 1 (Reuters) - South Korean exports in April fell by a slower-than-expected 19.0 percent from a year earlier, data showed on Friday, sliding for the sixth consecutive month as a global downturn slashed demand for the country's goods.

It compares with expectations in a Reuters poll for a fall of 23.2 percent and comes as stock markets around the world have been rallying on hopes that the global economy is turning around on the back of aggressive stimulus measures.

The Ministry of Knowledge Economy data also showed imports in April fell 35.6 percent over a year earlier, better than a 36.3 percent fall forecast in the Reuters poll [ID:nSEO187254].

The ministry said in a statement export value per working day -- a measure that analysts and government officials use to assess the monthly change in exports -- rose to $1.28 billion in April from $1.17 billion in March.

The ministry also said South Korea posted a record $6.02 billion trade surplus in April, following a revised surplus of $4.29 billion set in March.

South Korea's monthly exports and imports (value in billion dollars, percentage change over a year earlier):

April *March Exports value 30.67 28.07 Exports growth -19.0 -22.0 Imports value 24.65 22.53 Imports growth -35.6 -35.9 Trade balance value +6.02 +4.29 * revised NOTE: China and the United States combined take around one-third of South Korea's exports. Electronics and cars made up about 40 percent of all exports last year. (Reporting by Cheon Jong-woo and Yoo Choonsik)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.