CARGO processed at South Korean seaports fell 2.2 per cent year on year in the first quarter due to sagging global trade and an economic slowdown, reports Yonhap News Agency citing the oceans ministry.
Cargo handled at the country's ports nationwide came to 388.27 million tonnes during the first three months of 2023, compared with 396.94 billion tonnes a year earlier, according to the Ministry of Oceans and Fisheries.
Export-import cargo came to 332.67 billion tonnes, down 1.0 per cent year on year, it added.
Container cargo processed at the seaports dipped slightly by 0.2 per cent year on year to come to 7.31 million TEU in the January-March period. Export-import container cargo stood at 4.15 million TEU, logging a 0.2 per cent decline compared to the same period in 2022.
By nation, trade volume with the United States and Japan fell 4.5 per cent and 9.2 per cent, respectively last month, while that with China remained unchanged, the data showed.
"Beijing's reopening policy led to the upturn of our trade volume with China and in transshipment cargo in March following on-year decreases in January and February. But it is still difficult to make a forecast for this year amid high inflation and uncertainties in the global economy," a ministry official said.
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