South Korea’s intra-Asia container trade falls 5% in April

South Korea’s container trade with eight major Asian economies fell 5% year-on-year in April, marking the third consecutive month of decline.

According to statistics compiled by the Korea Customs Service (KCS) and reported by local media, total trade volumes reached 343,100 TEUs in April, down from 362,200 TEUs a year earlier.

Exports declined 7% year-on-year to 166,500 TEUs, extending a three-month contraction trend.

Imports also weakened, falling 3% to 176,600 TEUs and marking the second consecutive monthly decline.

Trade volumes decreased with most Asian partners except Taiwan.

Container trade with Vietnam remained the largest market at 114,500 TEUs, down 3%.

Trade with Malaysia reached 51,800 TEUs, slipping 0.2%, while Indonesia volumes fell 1% to 48,900 TEUs.

Thailand recorded the steepest decline among major markets, with volumes dropping 22% to 43,500 TEUs.

Trade with Taiwan was the only market to grow, increasing 4% to 31,400 TEUs.

Container volumes with the Philippines declined 4% to 20,600 TEUs, while Hong Kong volumes fell 3% to 16,900 TEUs.

Trade with Singapore dropped 15% to 15,200 TEUs.

The latest figures highlight continued weakness in regional trade flows as intra-Asia demand remains under pressure.

The post South Korea’s intra-Asia container trade falls 5% in April appeared first on Container News.