Import And Export Situation Of Hanben (2019) In July

The Ministry of Industry, Trade and Resources of the Republic of Korea immediately announced "the trend of import and export in July of this (2019) year". The export amount of the Republic of Korea in July of this year was about 46.1 billion US dollars, a decrease of 11.0% compared with the same month of last (2018) year, the import amount was about 43.695 billion US dollars, a decrease of 2.7% compared with the same month of last year, and the trade surplus was about 2.441 billion US dollars.

Among the 13 major export items of South Korea in July this year (customs clearance statistics from July 1 to 31), only the exports of automobiles, household appliances and auto parts increased by 21.6%, 2.2% and 1.9% respectively compared with the same month of last year (2018), while the exports of general machinery decreased by 5.0%, textiles by 6.4%, ships by 6.5%, petroleum products by 10.5%, petrochemicals by 12.4%, and steel by 21.7% Computers decreased by 24.1%, semiconductors by 28.1% and wireless communication machines by 30.6%.

（1） Export

In terms of major export regions (provisional value of customs clearance statistics from July 1 to 31), exports to Vietnam increased by 7.8%, ASEAN countries increased by 0.5% and EU countries increased by 0.5% It increased by 0.3%, while exports to other regions declined. Exports to Japan decreased by 0.3%, to the United States by 0.7%, to India by 7.6%, to mainland China by 16.3%, to Central and South America by 23.6%, and to the Middle East by 36.0%. In addition, the export of consumer goods with export potential increased by 0.5%, agricultural and aquatic products increased by 8.7%, and pharmaceuticals increased by 13.0%; However, the export of daily necessities decreased by 1.5%, and the export of fashionable clothes decreased by 7.6%. (Provisional value of customs clearance statistics from July 1 to 31).

（2） Import

In terms of import projects in July 2019, the import of consumer goods and intermediate goods increased by 10.7% and 2.8% respectively compared with the same month of last year (2018), while the import of raw materials and capital goods decreased by 13.5% at the same time (provisional value of customs clearance statistics from July 1 to 31). Among them, the import of major energy and resource projects only increased by 3.3% compared with the same month last year, while the import of coal decreased by 8.0%, petroleum products decreased by 18.4% and crude oil decreased by 22.0% compared with the same month last year.

According to Cheng Yunmo, Minister of the Ministry of Industry, Trade and Resources of the Republic of Korea, the Korean government has a strong sense of crisis about the current export recession, and will also fully launch the export response system in the second half of the year, with a view to restoring export vitality early. In addition to strengthening and expanding the ability of the "Export Vitality Promotion Group 2.0" to visit manufacturers to help solve problems, Hold a briefing for the 20 major industry manufacturers facing business problems due to Japan's export control measures, introduce the government's response plan, and provide one-on-one consultation.

Minister Cheng also pointed out that if Japan decides to exclude South Korea from the list of "white countries", the government will take countermeasures in real time under simulated scenarios to minimize the impact on South Korea's economy, and will cooperate with non-governmental organizations to thoroughly address the plight. In addition, the government will complain about Japan's export control measures in the WTO and take full advantage of bilateral and multilateral cooperation to respond comprehensively. In addition, the government also plans to provide tax system, research and development funds, trade insurance and other support to help ensure the volume of goods in advance, explore alternative manufacturers, and develop technology for major components and equipment.