Amid deterioration of foreign economic condition, such as weak yen and etc., April showed a slight uptrend following previous months, back by increased exports to developing countries and so on.
IT sector is said to have fought well with domestic corporations’ strengthened grip on the market and etc., on the other hand, Korea’s major exporting items, ship and steel, had a continued slump.
The Ministry of Trade, Industry and Energy of Korea has announced that values earned from exports in April increased by 0.4% year-on-year while the one from imports decreased by 0.5%. In terms of exports, Korea’s major items, for instance, ship, steel, vehicle and etc. showed a prolonged downtrend in exports while items in IT sector saw a rise in exports.
By product, ship export declined by 44.8% y-o-y.
An official at the ministry said, “Despite slow recovery of global economy, Korea has been stalled in exports, affected by weak yen and etc.,” and continued, “To overcome dismal foreign condition and revive out exports, an active political response from governmental departments is strongly needed.”