Exports to China Start to Slow

      May 07, 2014 12:52

      Korea's shipments to China, the top export destination, have begun to slow down significantly.

      The Ministry of Trade, Industry and Energy said Tuesday that exports to China from Jan. 1 to April 20 rose only 1.5 percent compared to the same period of 2013 to total US$42 billion.

      In the same period last year, exports to China surged 8.7 percent on-year.

      Korea's exports to ASEAN rose 14.3 percent over the same period this year, to the U.S. 4.9 percent and to the EU 9.6 percent.

      China's share of Korea's total exports as of the end of April has fallen to less than 25 percent.

      Experts cite China's weakening growth as the main culprit. Korean exports of gasoline and other petroleum products to China last year dropped around 16 percent and have posted double-digit drops from January to April of this year.

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