News
South Korea traded 326,600 TEUs of containers to and from eight other Asian countries and regions in August, which declined 2.6% year on year. Exports from South Korea accounted for 164,000 TEUs, down 3.3%, and imports to the nation, 162,600 TEUs, down 1.9%.
Due to escalations in the novel coronavirus (COVID-19) pandemic, container movement on the route suffered negative year-on-year growth from the beginning of the year—except in February and March. From April, in particular, year-on-year contractions were registered for four months in a row. South Korea’s exports, which improve from a year earlier in February, shrank year on year in the other months. Its imports, meanwhile, enjoyed a year-on-year increase in the first quarter (January-March), but diminished from a year earlier in the second quarter (April-June).
Containers to and from Vietnam, South Korea’s leading trade partner, swelled 3% to 103,500 TEUs in August, although they decreased year on year in January and from March to July. Ranked second place were those to and from Malaysia, which fell 3% to 40,000 TEUs. Those to and from Thailand went down 10% to 38,800 TEUs, finishing in third. In fourth place, shipments to and from Indonesia plunged 14% to 38,100 TEUs. At the bottom of the top five were those to and from Taiwan, which sank 10% to 32,400 TEUs.
