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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

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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.

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