South Korea in June reduced exports by 13.5% compared to the same month last year to $44.18 billion, official data showed. The decline in exports has been observed in the country for the past seven months, which is caused by lower prices for memory chips and a decline in demand from China, which is experiencing problems with the trade conflict with the United States. Compared with a decline in Japanese exports in May by 9.5%, its rate of decline in June accelerated. Economists assumed that its volume would be reduced by 12%. The export of semiconductors showed the largest decrease of 25.5%. The country also recorded a decrease in imports by 11.1% in June, after a 1.8% decrease in the previous month. Last month, imports amounted to 40.01 billion dollars. According to experts, it was expected to drop by 10.1%. The trade deficit of the country amounted to 4.17 billion dollars.
China's diesel exports for June fell by 50% year-on-year, a record low since September 2018 as lockdown measures around the world continued to curb fuel demand. China exported has 1.04 million tons of diesel, compared to the 1.45 million and ...
The second quarter had seen South Korea slipping into recession. This came to be the country’s sharpest economic downturn in more than two decades as the novel coronavirus crisis weighed on exports and social distancing measures halted ...
South Korea on Wednesday announced that it would scale back its plans to impose capital gains taxes on stock investments after numerous complaints from retail investors. However, taxes will, instead increase for top earners as part of changes ...
Japan's industrial output is expected to recover in June from a double-digit decline in May amid hopes that factory activity may have reached its lowest due to the coronavirus pandemic, according to a Reuters’ poll of 13 economists. While ...
Australian retail sales advanced 2.4% in June. This came as an upbeat figure following a 16.5% increase seen in May as the land down under resumed its economic operations from coronavirus-related lockdowns. The country’s retail sales ...