Скачать или смотреть Korea's current account surplus with China dips 19.5% in 2015

작년 對중국 경상흑자 19.5% 급감…수출감소 영향
Korea's current account surplus with China is heading downhill.... and that could mean trouble, as Beijing accounts for about a quarter of Korea's total exports.
Kim Min-ji explains why Seoul may need a new export strategy.
Korea's current account surplus with China is on a downward spiral.
According to the Bank of Korea,... the country's current account surplus with China came to 45-point-1 billion U.S. dollars last year.
That's down by almost 20 percent from a year ago,... and marks the second straight year of decline,... after a record high in 2013.
Still,... China makes up over 40 percent of Korea's total current account surplus, which sat at 105-point-8 billion last year.

The central bank says a drop in exports of chemical products and display panels to China... led the decline in the goods account surplus,... while the service account surplus has also shrunk.
On top of that,... the Chinese government is shifting away from an investment-led growth model to one led by domestic consumption,... giving Korean exporters a hard time.
Data shows that Korea's exports to China came to 38-point-1 billion U.S. dollars between January and April,... down over 16 percent from the year before.

"It's been a while since China has implemented changes in its economic structure. But Korea hasn't been able to keep up... to target the consumption market effectively. Korea also needs to develop more consumer goods,... as major export items still consist of raw materials or intermediary products."

But experts warn it won't be easy going, due to the rising competitiveness of Korea's Chinese rivals,... so they say Korea should focus on areas where it has a competitive edge,... such as cosmetics, cultural content and pharmaceuticals.
They also urge Korea to diversify its export partners,... as China's growth is expected to continue to slow.
Kim Min-ji, Arirang News.


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