Korean trade canary still dead

Thursday, 2 March 2023

No sign here of any China boom yet. Pantheon with the note.

Korean exports show improved demand in the U.S. and E.U.

Korean exports continued to decline at a rapid pace in February, but with initial signs of improvement in key markets, except for China. The underlying trend is shown by a 15.6% y/y plunge in working day-adjusted exports in February, extending the 14.7% fall in January.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.