[Breaking] Exports Negative for 14 Consecutive Months... "Due to Decrease in Operating Days"
[Asia Economy Reporter Kim Bo-kyung] Our exports showed a negative trend for 14 consecutive months as the decline in exports continued into the new year.
According to the 'January 2020 Export-Import Trends' announced by the Ministry of Trade, Industry and Energy on the 1st, last month's export amount (based on customs clearance) was $43.35 billion, down 6.1% compared to the same period last year.
The Ministry of Trade, Industry and Energy explained that the decrease in exports in January was due to a shortage of working days (-2.5 days) caused by the Lunar New Year holiday, and that the impact of the novel coronavirus infection (Wuhan pneumonia) was minimal.
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Excluding the effect of working days, the average daily export amount recorded $2.02 billion, an increase of 4.8% compared to the same month last year. This is the first time in 14 months that the average daily export has turned positive.
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