Foreign media: South Korea ’s trade income and expenditure may turn into a deficit after 14 years

Zhongxin Jingwei, June 21st. According to the website of the Yonhap News Agency, the South Korean Trade Association International Trade and Commerce Research Institute predicted in a report released on the 21st that this year South Korea's trade revenue and expenditure will change from a surplus to a deficit after 14 years. The scale will hit a new high since 1996.

The report pointed out that although South Korea ’s exports this year are strong, the export scale is expected to increase by 9.2%year -on -year to US $ 703.9 billion, and it has exceeded 700 billion US dollars in history. However, it is expected that imports will increase by 16.8%to $ 718.5 billion. This generates a US $ 14.7 billion trade deficit, which is not only higher than the US $ 13.2674.1 billion at the time of the financial crisis at the time of the 2008 financial crisis, and it will also set the highest level since 1996 (US $ 20.6 billion). The main reason is that some industries have risen in depression in depression.

In terms of exports, the semiconductor industry has maintained a growth rate of 10.2%with the growth of the foundation of wafer foundry; the increase in demand growth and price increase will drive the exports of petroleum products and petrochemical industry by 50.5%and 9.6%. The potential will push up the overall export of the automotive industry under the dilemma of core shortage and logistics. The ship export will be affected by the sharp decline in orders under the epidemic, a year -on -year decrease of 21.9%; steel exports will also decline in the second half of the year, and it is expected that exports will decrease by 12.2%year -on -year.

In terms of imports, the long -term Russian conflict is likely to push up oil prices. Considering that South Korea's energy imports in the first five months of this year accounted for 27.6%of the overall import amount, the import value is expected to continue to grow. (Zhongxin Jingwei APP)

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