S. Korea’s exports decline for 4 straight months amid pandemic, but pace slows as economies reopen

Yonhap News Agency | Jul 1, 2020 at 3:13 AM
  • South Korea’s exports fell 10.9 percent in June marking the fourth consecutive month of decline amid the fallout from the new coronavirus pandemic, data showed Wednesday, although the pace slowed as major economies around the globe slowly began to resume business activities.
  • Exports of automobiles dropped 33.2 percent in June from the previous year, due to the weak demand from the U.S. and European markets, while local production lines were also disturbed by the pandemic.
  • Outbound shipments of petrochemical products plunged 11.8 percent on-year in June due to lower oil prices.