S.Korea's export volume falls for 4 months

Source: Xinhua Published: 2020/8/26 15:05:11

Seoul, capital of South Korea, has closed more than 50 bars and clubs linked to a cluster of COVID-19 infections. The city government Saturday ordered clubs and bars shut to prevent a potential second wave of infections. Photo: cnsphoto



South Korea's export volume kept falling for four straight months due to an economic fallout from the COVID-19 outbreak, central bank data showed Wednesday.

The export volume index lost 0.7 percent in July from a year earlier, continuing to slide for four months since April, according to the Bank of Korea (BOK).

Export volume for machinery, transport equipment and textiles slumped in double digits, but the figure for computer, electronic and optical devices grew as people preferred working at home and attending online classes amid worry about the COVID-19 outbreak.

In terms of value, the export shrank 8.6 percent in July from a year earlier, keeping a downward trend for the fifth consecutive month.

It was down from double-digit falls of 23.3 percent in April, 25.2 percent in May and 10.5 percent in June each.

Global demand partially recovered amid the reopening of businesses in major economies following shutdowns on the fear of the virus infections.

The import volume index added 0.5 percent in July from a year ago, but the import value index retreated 11.1 percent in the month.

Posted in: ECONOMY

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