Gov't expresses concerns on Korean exports in monthly greenbook
Arirang News
2019-02-15
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정부 그린북 "수출 조정받고 있다"…반도체 불확실성도 우려
The government released the latest edition of a monthly economic report.
Sliding exports and the sluggish job figures stood out.
Kim Ji-yeon zooms in on February's Greenbook.
The Ministry of Economy and Finance expressed its concerns over Korea's outbound shipments... as the volume of exports dropped on-year for the second straight month in January.
According to the ministry's monthly greenbook report released Friday... the country's exports dipped one-point-three-percent on-year in December... and fell again by around six-percent on-year last month... with telecommunications, computers and semiconductors all seeing big drops.
The government refrained from commenting on its effect on the local economy... but stated Korea's investment and exports are going through changes... due to growing external uncertainties with the U.S.-China trade tensions as well as Britain leaving the European Union... and waning demand for Korea's main export item, semiconductors.
Facility investment also slumped for the second consecutive month in December last year by zero-point-four percent on-month.
For four months leading up to January ... the government had stated in its greenbook that the country's exports saw a steady increase... mainly due to the semiconductor boom.
"The root cause of dwindling demand for semiconductors and smartphones comes from signs of a slowing global economy... in particular, the economies of the U.S. and China continued to slow last year. Economic prospects were further bleakened by the trade disputes between the two biggest economies."
The greenbook pointed out that job growth is sluggish.... with the unemployment rate reaching a monthly record high in January surpassing one-point-two-million people... mainly due to a slump in the manufacturing sector.
It stated though that consumption and retail sales had both expanded for the third consecutive month.
Consumer sentiment also rose zero-point-six points from the previous month to the 97-point-five level last month.
Kim Ji-yeon, Arirang News.
The government released the latest edition of a monthly economic report.
Sliding exports and the sluggish job figures stood out.
Kim Ji-yeon zooms in on February's Greenbook.
The Ministry of Economy and Finance expressed its concerns over Korea's outbound shipments... as the volume of exports dropped on-year for the second straight month in January.
According to the ministry's monthly greenbook report released Friday... the country's exports dipped one-point-three-percent on-year in December... and fell again by around six-percent on-year last month... with telecommunications, computers and semiconductors all seeing big drops.
The government refrained from commenting on its effect on the local economy... but stated Korea's investment and exports are going through changes... due to growing external uncertainties with the U.S.-China trade tensions as well as Britain leaving the European Union... and waning demand for Korea's main export item, semiconductors.
Facility investment also slumped for the second consecutive month in December last year by zero-point-four percent on-month.
For four months leading up to January ... the government had stated in its greenbook that the country's exports saw a steady increase... mainly due to the semiconductor boom.
"The root cause of dwindling demand for semiconductors and smartphones comes from signs of a slowing global economy... in particular, the economies of the U.S. and China continued to slow last year. Economic prospects were further bleakened by the trade disputes between the two biggest economies."
The greenbook pointed out that job growth is sluggish.... with the unemployment rate reaching a monthly record high in January surpassing one-point-two-million people... mainly due to a slump in the manufacturing sector.
It stated though that consumption and retail sales had both expanded for the third consecutive month.
Consumer sentiment also rose zero-point-six points from the previous month to the 97-point-five level last month.
Kim Ji-yeon, Arirang News.
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