S. Korea’s exports volume index growth slows in July

[THE INVESTOR] The growth rate of South Korea’s export volume index dropped in July, Bank of Korea said Aug. 23.

According to the central bank, Korea’s exports volume index recorded 0.8 percent on-year growth in July, falling from 3.6 percent on-year growth recorded in June.

The data showed that exports of transportation equipment, machinery and fabrics fell, but electronics, electric equipment and chemicals increased. The BOK data does not include ships, weapons, works of art or aircrafts. 

In terms of the value of exports, July saw an on-year drop of 7.6 percent.

The data also showed that both volume and value of imports dropped in July. The imports volume index fell 4.9 percent, while the figure for value of imports plunged 13.1 percent from a year ago.

By Choi He-suk (cheesuk@heraldcorp.com)