According to Juheng.com, a report released by the Ministry of Trade, Industry and Energy of Korea today (1) shows that under the influence of COVID-19, South Korea ’s exports in May were US $ 34.86 billion, down 23.7% year-on-year.
It is reported that due to the spread of the COVID-19 epidemic in the world, the blockade measures adopted by various countries have impacted South Korea's overseas demand, and the export value has fallen for three consecutive months.
In response to this, the Ministry of Industry of Korea believes that the recent sluggish export is not a structural problem, and is expected to rebound with the economic recovery of the main export target countries. Among them, the chip export performance was relatively better. Chinese PC manufacturers resumed production. With the remote office and online education, the demand for computers also increased globally; on the other hand, cars fell by 54.1% to 1.8 billion US dollars .
From the perspective of export projects, South Korea ’s semiconductor exports changed from negative to positive after an interval of 18 months. Total exports and daily average exports increased by 7.1% and 14.5%, respectively. The export of non-contact products such as diagnostic kits and other bio-health products and computers performed well.