Tuesday , July 14 2020
Home / Tyler Durden /South Korean Exports Collapse 21% – Biggest Drop In A Decade

South Korean Exports Collapse 21% – Biggest Drop In A Decade

Summary:
Having "stabilized" at a dismal level on contraction, South Korean exports' collapse just took another leg lower as the battle with Japan sparks the biggest drop in trade since 2009. Exports: to China -29.8%; to U.S. -20.7%; to EU -12.9%; But as the trade war crushes chip exports (contracting 39.8%), the ongoing dispute with Japan is accelerating the overall collapse: Sending overall exports down 21.8% YoY... Source: Bloomberg The Won has tumbled at the open... Source: Bloomberg South Korea is the first major exporter to report trade data each month, so provides an early reading of global trade; and as the world's leading exporter of computer chips, ships, cars and petroleum products, September's data is a major red flag for the global economy's accelerating

Topics:
Tyler Durden considers the following as important:

This could be interesting, too:

Tyler Durden writes China’s Stealth Jet With Thrust Vectors Enters Mass Production

Tyler Durden writes What Greta Thunberg Forgets About Climate Change

Tyler Durden writes US Recovery Stalls As Pandemic ‘Second Wave’ Threatens To Unleash Double-Dip Recession 

Tyler Durden writes What Is The Real Purpose Of The Lockdowns?

Having "stabilized" at a dismal level on contraction, South Korean exports' collapse just took another leg lower as the battle with Japan sparks the biggest drop in trade since 2009.

Exports:

  • to China -29.8%;

  • to U.S. -20.7%;

  • to EU -12.9%;

But as the trade war crushes chip exports (contracting 39.8%), the ongoing dispute with Japan is accelerating the overall collapse:

Sending overall exports down 21.8% YoY...

South Korean Exports Collapse 21% - Biggest Drop In A Decade

Source: Bloomberg

The Won has tumbled at the open...

South Korean Exports Collapse 21% - Biggest Drop In A Decade

Source: Bloomberg

South Korea is the first major exporter to report trade data each month, so provides an early reading of global trade; and as the world's leading exporter of computer chips, ships, cars and petroleum products, September's data is a major red flag for the global economy's accelerating downturn (and global stocks' earnings expectations).

South Korean Exports Collapse 21% - Biggest Drop In A Decade

Source: Bloomberg

Tyler Durden
Tyler Durden (a pseudonym) represents the idea that a return to truly efficient markets is a possibility and a necessity. After having experienced the inner workings of capitalism at various asset managers and advisors, Tyler believes that the current model is flawed and a deleveraging at every level of modern society is needed to reinspire the fundamental entrepreneurial spirit.

Leave a Reply

Your email address will not be published. Required fields are marked *