SEOUL- South Korea’s exports for the first 20 days of January fell 1.0 percent from the same period the year before, customs agency data showed on Monday.
By destination, shipments to the United States rose 3.6 percent, but exports to the European Union fell 9.4 percent . Those to China rose 0.1 percent, set to snap a 19-month streak of decline.
On average per working day, exports were up 2.2 percent.
South Korea’s exports rose for a third month in December but at a slower pace as weaker demand for Korean goods in China offset robust global sales for semiconductors, data showed.
Exports by Asia’s fourth largest economy gained 5.1 percent to $57.66 billion in December, slowing from a rise of 7.7 percent in November and also below 6.6 percent gain seen in Reuters poll of economists.
Export data out of Asia’s fourth largest economy is a closely watched indicator to gauge momentum for global trade.
Policymakers are pinning hope on recovering exports for an estimated 2.1 percent of economic expansion in 2024 as high borrowing costs and sticky inflation keep consumer spending sluggish.
Chip exports turned a corner in November, rising for the first time in 16 months as slump in semiconductor demand began to ease.
In December, chip exports surged 21.8 percent year-on-year after a jump of 12.9 percent a month earlier.
