South Korea’s container trade with East Asian economies declined in August, falling 5.9% year on year to 345,300 TEUs, according to preliminary data from the Korea Customs Service (KCS).
Exports inched up 2% to 164,700 TEUs, but imports dropped 12% to 180,500 TEUs.
Shipments decreased to nearly all destinations except Malaysia. Volumes to Vietnam fell 7% to 117,400 TEUs, though the country kept the largest share. Trade with Indonesia fell 12% to 47,600 TEUs, while Thailand saw an 11% decline to 45,700 TEUs. Other markets also posted drops: Taiwan down 8% to 31,300 TEUs, Philippines down 17% to 21,800 TEUs, Hong Kong down 8% to 17,000 TEUs, and Singapore down 8% to 15,600 TEUs.
By contrast, container exports to Malaysia surged 25% to 48,600 TEUs, making it the second-largest destination for South Korea’s intra-Asia trade.
