Experts Concerned as South Korea Hits Record Level Trade Deficit in January

Experts Concerned as South Korea Hits Record Level Trade Deficit in January
A general view of cargo ships in the Busan Port on Nov. 5, 2021 in Busan, South Korea. Chung Sung-Jun/Getty Images
Lisa Bian
Updated:

Despite growing exports, the trade deficit in South Korea jumped to a 56-year high in January, prompting concerns as experts believe that it could be a signal of a less optimistic 2022 economy.

According to data released by the South Korean Ministry of Trade, Industry and Energy on Feb. 1, South Korea’s exports in January increased by 15.2 percent from the same month last year, to $55.32 billion.

Lisa Bian
Lisa Bian
Author
Lisa Bian, B.Med.Sc., is a healthcare professional holding a Bachelor's Degree in Medical Science. With a rich background, she has accrued over three years of hands-on experience as a Traditional Chinese Medicine physician. In addition to her clinical expertise, she serves as an accomplished writer based in Korea, providing valuable contributions to The Epoch Times. Her insightful pieces cover a range of topics, including integrative medicine, Korean society, culture, and international relations.
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