South Korea recorded the biggest fall in exports to China among major exporters to the country in the first quarter.

Korean exports to China plunged 28 percent in the first quarter from a year earlier due mainly to a sharp decline in semiconductor shipments, China’s trade data showed Sunday.

In the three months ended March 30, Korean exports to China fell to $38.2 billion compared to the same period of last year.

South Korea accounted for 6.2 percent of China’s overall imports, down from 8.1 percent, during the same period, according to data from China’s General Administration of Customs.

China’s overall imports declined 7 percent on-year to $617.12 billion in the first three months, the data showed.

Korea posted the biggest on-year drop in exports to the neighboring country in the first quarter among 23 countries and regions the China customs office regards as China’s major trading partners, according to South Korea’s News Agency (Yonhap).

Korea’s overall semiconductor exports plummeted 40 percent in the March quarter from a year ago amid lower demand for chips and their falling prices, according to the Korea International Trade Association and the Bank of Korea. (QNA)

Source: Qatar News Agency