South Korea's exports declined at one of the fastest rates among the Group of 20 countries amid the protracted trade row between the United States and China, data showed Monday.
In the April-June period, South Korea's outbound shipments dipped 8.6 percent from the same period last year, according to a monthly report from the World Trade Organization.
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(Yonhap) |
The rate of decline marks the second highest among G-20 countries after the 9.1-percent on-year drop posted by Indonesia.
Such a drop was apparently attributable to a slowdown in global trade, largely prompted by the prolonged trade dispute between Washington and Beijing, the world's largest economies that are also the largest importers of goods from both South Korea and Indonesia.
South Korea's exports have dropped for nine consecutive months since December.
Exports of the US and China slipped only 3.1 percent and 1.0 percent on-year, respectively, in the April-June period, according to the report.
Among the G-20 countries, only five -- Australia, Argentina, Mexico, Turkey and Canada -- saw their exports grow over the cited period.
With a sharp decline in its exports, South Korea's ranking, in terms of export value, also moved down a notch from a year earlier to the world's sixth-largest in the second quarter, overtaken by France, whose exports remained nearly unchanged over the cited period. (Yonhap)
