Ugly trade data from SK for the month

  • exports -24.3% y/y
  • imports -15.9% y/y
  • exports per working day -17.4% y/y

The drop in exports is the worst since 2009.

Coronavirus impacts working through the economy - this does not auger well for the rest of the world which is behind SK in the timeline of the outbreak. More pain ahead globally. But we knew that already.