For the first 20 days of September

  • exports down 21.8% y/y
  • imports down 11.1% y/y
  • exports to China down 29.8%

South Korean exports of information and communication technology (ICT) products have been falling for 10 consecutive months (latest complete month data from August). September shaping up no better.

Trade war being exacerbated in SK by its dispute with Japan.