South Korea’s export volume turned downward due to weaker demand for locally-made chemical products and equipment, central bank data showed Friday.
The export volume index fell 1.0 percent in October from a year earlier, marking the first reduction in nine months since January, according to the Bank of Korea (BOK).
In terms of volume, shipment for computers, electronic and optical devices grew 6.3 percent in October on a yearly basis amid strong demand for semiconductors used for artificial intelligence (AI) chipsets.
Export volume for chemicals recorded a single-digit decline, while shipment for machinery and equipment retreated in double figures.
The export value index shrank 0.5 percent in October compared with the same month of last year, marking the first slide in five months.
The import volume index added 1.0 percent in the cited month, but the import value index dipped 2.4 percent.
The net terms-of-trade index for goods, or a ratio of export price to import price, was up 3.9 percent in October on a yearly basis owing to the import price fall.
