South Korea posts the worst trade deficit in its history
Publishing timestamp: 2023-01-31 22:01:30
Summary
South Korea recorded its worst trade deficit since 1956 in 2022, with exports falling 16.6% and imports falling 2.6%. This was due to seasonal factors such as import in energy exports for winter, as well as sudden drop in chip prices. Global smartphone shipments dropped 18% in the final quarter of 2022, and Samsung Electronics and SK Hynix reported their worst quarterly profits in 8 years.
Sentiment: NEGATIVE
Tickers: KRW=,
Keywords: world economy, asia economy, us dollar/korean won fx spot rate, trade, economic events, business news, china, south korea,
Source: https://www.cnbc.com/2023/02/01/south-korea-posts-the-worst-trade-deficit-in-its-history.html