A total of 317,900 TEUs of containers were traded between South Korea and eight other economies in Asia in June, which decreased 6.5% year on year from 340,000 TEUs, according to statistics compiled by the Korea Customs Service (KCS). South Korea exported 163,800 TEUs, down 10.6%, and imported 153,000 TEUs, down 1.6%, indicating that exports diminished much more severely than imports.
By trade partner, 97,000 TEUs were moved to and from Vietnam, down 6%; 46,900 TEUs to and from Thailand, down 17%; 38,000 TEUs to and from Malaysia, down 5%; and 34,900 TEUs to and from Indonesia, down 9%. Containers to and from the Philippines also declined 9% to 18,800 TEUs, but improved from April and May, when they registered double-digit contractions for two months running. In contrast, those to and from Taiwan and Hong Kong were both robust, growing 7% to 39,100 TEUs and 5% to 31,100 TEUs, respectively.
Source: JIFFA (Japan International Freight Forwarders Association)