Trade statistics released by the General Administration of Customs of China show that in the first quarter of this year, South Korea's exports to mainland China (that is, the import amount from mainland China) was US $ 38.2 billion (about S $ 51 billion), which was compared toThe same period last year decreased by 28.2%.
According to the Yonhap News Agency on April 30, South Korea's exports to China have declined among 23 major trading partners.Japan decreased by 19.5%year -on -year, and the United States decreased by only 1.7%.
From the perspective of exports to mainland China, it ranked second in South Korea last year, and fell to fifth in the first quarter of this year, ranking after the United States, Taiwan, Australia, and Japan.
The analysis of Yonhap News Agency believes that South Korea's exports to China have fallen sharply, which is largely due to the downturn of semiconductor exports.Data from the South Korean Trade Association and the Bank of Korea show that due to the decline in global semiconductor demand and the landslide of the memory market price, South Korean semiconductor exports decreased by 40 % compared with the same period last year.The export growth rate of semiconductor products to China has further declined from -31.7%in the fourth quarter of last year to -44.5%in the first quarter of this year.
The Central Bank of Korea reports that the positive effects of the restart of the Chinese economy have limited effects, and the pace of domestic demand recovery has failed to accelerate, which has an impact on South Korea's exports.After the Chinese economy restarted, the consumption quickly heated up with the rapid recovery of catering and accommodation such as restaurants and accommodation.On the contrary, the consumption of durable products such as mobile phones and cars is weak, and the imports of the final products and intermediate products have not been restored.
