Shipping Price Index - The SCFI composite index has shown a rebound of 9% from the end of March to mid-May, influenced by export rush and tariff impacts[10] - The CCFI index, the second largest shipping price index globally, fell to its annual low on April 3, down 27% from the end of 2024, but has since rebounded slightly[13] - The BDI index has been on a downward trend since late March, hitting a low on April 16 before a slight rebound, and then declining again from May 7[17] Port Cargo Throughput - Chinese port cargo throughput has shown resilience, with container throughput reaching a record high on April 27, surpassing 6 million TEUs[20] - The Port of Los Angeles, the busiest in the U.S., saw its import container throughput drop to the lowest level since June 2024 by May 10, indicating negative impacts from tariffs[22] Domestic Production Activity - The high-frequency economic activity index from the First Financial Research Institute has been declining since late March but remains above 1, indicating stronger activity compared to the previous year[29] - The manufacturing PMI new export orders index fell from 49% to 44.7%, while the EPMI production index dropped from 67.7% to 51.6%[29] Trade Outlook - South Korea's exports showed stronger-than-seasonal growth in early and late April, but weakened in mid-April, reflecting the impact of tariff negotiations with the U.S.[30] - The volatility in South Korean exports is expected to continue until the conclusion of U.S.-Korea trade negotiations[30] Risk Factors - Potential risks include unexpected geopolitical conflicts, domestic policy implementation falling short of expectations, and tighter overseas liquidity conditions[36]