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在线翻译:
szdaily -> World Economy -> 
S.Korea’s June exports tumble
    2019-07-02  08:53    Shenzhen Daily

SOUTH KOREA’S exports posted their biggest fall in three-and-a-half years in June, official data showed yesterday, denting government hopes for a pick-up in economic growth after a shocking decline in the first quarter.

Exports by Asia’s fourth-largest economy plunged 13.5 percent in June from a year earlier, the trade ministry data showed, more than the 12 percent decline tipped in a poll and the fastest fall since January 2016.

The data are the first batch of trade figures released by a major exporting economy in the world since U.S. and Chinese leaders agreed over the weekend to restart their trade talks, which analysts say provided some relief for financial markets but is not expected to boost global trade.

“The outcome of the G20 events was better than expected, but that is somehow a political show, and what matters to the local economy is eventually the semiconductor sector,” said Oh Chang-sob, an economist at Korea Investment & Securities.

A plunge in the prices of memory chips amid a cooling global economy has hurt South Korean exports as semiconductor products account for 20.9 percent of the country’s total exports last year.

Exports in the second quarter fell 8.4 percent from a year earlier after an 8.5 percent drop in the first quarter, dashing the government’s expectations that the economy would rebound from a 0.4 percent decline in the first quarter. (SD-Agencies)

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