News
The total volume of containerized shipments traded between South Korea and eight Southeast Asian economies amounted to 340,200 TEUs in October, which shrank 3.5% year on year from 352,500 TEUs. Exports from South Korea decreased 3.7% to 176,900 TEUs, suffering a year-on-year contraction for eight months in a row, or since March. Imports to South Korea also diminished, going down 3.3% to 163,300 TEUs and turning down from September, when they increased 7%.
By trade partner, shipments to and from five of the eight waned from a year earlier. For example, those to and from Thailand, which were ranked in second place, plunged 19% to 41,400 TEUs. Containers to and from Malaysia fell 4% to 41,400 TEUs, finishing in third. At the bottom of the top five, those to and from Taiwan headed south 2% to 37,400 TEUs. In seventh place were shipments to and from the Philippines, which plummeted 19% to 19,900 TEUs. The eighth largest partner was Singapore, to and from which 18,000 TEUs were traded, down 9%.
In contrast, exports to and imports from Vietnam swelled 4% to 109,300 TEUs in total, enjoying the largest share of the pie and registering a year-on-year improvement for three months running, or since August. Those to and from Indonesia picked up 0.4% to 39,600 TEUs, winning fourth place. Coming in sixth, those to and from Hong Kong were also brisk, hiking 7% to 33,200 TEUs.
