According to South Korea's Central Daily on February 7, on February 6, the Ministry of Industry, Commerce and Resources said that compared with January last year, exports fell by 5.8% last month, with an export value of 46.35 billion US dollars. This is the second consecutive month of decline since December last year (-1.2%) and the second time 27 months after September-October 2016.

This is mainly due to the export of "filial piety" semiconductor recession caused. In the international market, semiconductor exports showed negative growth (-8.3%) after 27 months in December last year as semiconductor prices fell sharply, and then the decline rate increased to 23.3% last month. The export growth rate of petroleum chemistry, the second largest export product after semiconductor and general machinery, also showed a negative trend for two consecutive months, which was affected by the fall of international oil prices as well as the "petroleum products" which changed to a downward trend last month.

Exports of monitors and wireless communication equipment, which are increasingly fierce in international competition, also show a downward trend for five months and six months in a row. Based on January this year, the export volume of 9 of the 13 main export products decreased compared with January last year.

Such a decline in exports is not just a problem for South Korea. The major exporting powers, such as Germany, Japan, France and the United Kingdom, have entered a negative growth trend since November last year. China, the world's largest exporter, has also shown a downward trend in exports since December last year. The analysis shows that this is affected by the deterioration of international trade environment such as Sino-US trade disputes and Britain's non-agreement to leave Europe in the context of the world economic downturn.

Major institutions at home and abroad believe that South Korea's export growth rate this year will be far less than last year (5.5%). Institutions such as the Korea Institute of Foreign Economic Policy (2.5%) and the Korea Institute of Finance (2.1%) gave less than half the figures given last year. The Bank of Korea believes that exports this year will decrease by 1.4% compared with last year, and turn negative again after three years.