SEOUL - South Korea’s exports to China slumped in the first 20 days of February and overall sales per working day tumbled, as a coronavirus outbreak disrupted global supply chains and threatened to put a choke hold on Asia’s fourth-largest economy.
“Per-day exports to China probably was far worse” in seasonally adjusted terms, a Korea Customs Service official said after the data was released. Average exports-per working day contracted 9.3%, however, following a 3.2% fall seen for the first 10 days of February, as demand took a knock from the spreading coronavirus.
A breakdown of the trade data showed overseas sales of memory chips and car components jumped 15.4% and 40.6% respectively. Exports of vessels, however, tumbled 29%.South Korea reported its first death from the virus and a surge in new cases on Thursday, spurring concerns about the virus spreading outside China.
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