Data from the South Korean Ministry of Commerce showed on Sunday that exports grew at the slowest pace in 14 months in April, with the trade deficit in increased while shipments to China decreased and energy and material prices increased prime has increased the country’s imports.
The data showed that exports grew 12.6% from a year earlier to $ 57.69 billion, the slowest since February 2021. It was below the expectations of a Reuters poll of 14.5% growth and it was 18.2% slower, recorded in March.
South Korea’s monthly trade data, the first to be released among major exporting economies, is a leader in global trade.
Exports to China, South Korea’s largest trading partner, have been impacted by Beijing’s non-proliferation policies, with the shutdown impacting industrial production and disrupting supply chains.
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