South Korea August exports tumble for ninth month as world economy cools

SEOUL - South Korea’s exports tumbled in August for a ninth consecutive month, on sluggish demand from its biggest buyer, China, and depressed prices of computer chips globally, government data showed on Sunday.

Exports in August plunged 13.6% from a year earlier, the trade ministry data showed, exactly matching a median 13.6% fall forecast in a Reuters survey and marking the third month with a double-digit rate of drop in exports. South Korea is the first major exporting economy to report foreign trade data each month and its companies include some of the world’s top suppliers of chips, smartphones, cars and ships, so providing an early guide to the health of the global economy.

Imports in August fell 4.2% from a year earlier, largely in line with a prediction of a 4.0% drop in the Reuters survey. That brought this month’s trade surplus to $1.72 billion, compared with a $2.40-billion surplus in July.

Source: Financial Digest (financialdigest.net)

If semi chip exports were down in total -30.7% YoY but just -21.3% YoY to China, that means chip exports to everyone ex-China were even worse. Back of the envelope math would argue -30 to -40% in most other places. Not good, chips are in everything 2day. Global recession coming

Will you love trump after the greats biggest world wide depression ever?

«Islamic~State» East Asia Wilayah 🔻🔻 📷 | Ghanimah Granted by Allah to the Khilafah Soldiers After Attacking a Position of a Murtadd Militia Allied with the Crusader Filipino Army in Bakat Village in Maguindanao Area BGTCًhampiًons Texans 🌱

So much winning.

If only the planet were cooling too. Maybe it could use some shadeballs.

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