SEOUL: South Korea’s exports grew at their slowest pace in nearly two years in September as weaker global demand put pressure on trade-dependent economies.
International sales grew just 2.8% in September, below 2.9% according to analysts polled by Reuters, the slowest growth since October 2020.
Imports rose 18.6%, better than the 16.4% expansion expected in the survey, but slowed from the 28.2% increase in August.
This resulted in a trade balance deficit of $3.77 billion, marking the sixth consecutive month of deficits.
By destination, shipments to the United States increased by 16.0%, but shipments to China decreased by 6.5% and shipments to the European Union decreased by 0.7%.
https://www.channelnewsasia.com/business/s-korea-sept-exports-log-slowest-growth-almost-two-years-2978871 South Korea’s September exports record slowest growth in nearly two years