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South Korea’s exports fall on low export price

Published

9 years ago

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Seoul: South Korea’s exports fell for seven months due to soft global demand and low export price, caused by cheaper oil and oversupply, a government report said on Saturday.

Exports, which account for about half of the economy, declined 3.3 percent from a year earlier to $46.61 billion in July, posting the downward trend for seven straight months, as per reported.

The July exports increased 7.8 percent on a yearly basis after gaining 10.8 percent in June, but lower export prices and oversupply led to a decline in exports value, ministry of trade, industry and energy said.

Imports tumbled 15.3 percent from a year earlier to $38.83 billion in July, maintaining the falling trend for 10 months in a row.

In terms of value, exports of oil products and petrochemicals plunged 28.1 percent and 17.2 percent each due to low crude oil prices that lead to a decline in oil-related export prices.

Shipments of automobiles and telecommunication devices slumped 6.2 percent and 16.0 percent each, with those for computers, consumer electronics and general machinery retreating 6.5 percent, 17.5 percent and 6.3 percent respectively.

Exports to China and the US, South Korea’s top two trading partners, rose 6.4 percent and 1.8 percent respectively in July, with those to Japan and the European Union growing 28 percent and 5.6 percent each.

The ministry said that profitability among exporters improved last month on the South Korean currency’s descent to the dollar and rising export volume, but it forecast that export value would continue to fall for the time being due to the weak global demand.

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Apple is giving a huge discount on its gadgets: Details inside

Published

2 years ago

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May 5, 2022

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If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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