SEOUL (XINHUA) – South Korea’s export fell for the 12th consecutive month due to weak global demand for locally-made products, especially semiconductors and oil products, government data showed yesterday.
Export, which accounts for about half of the export-driven economy, shrank 4.4 per cent from a year earlier to USD54.66 billion in September, continuing to decrease since October last year, according to the country’s Ministry of Trade, Industry and Energy.
Import tumbled 16.5 per cent to USD50.96 billion last month compared to the same month of last year. Affected by the faster fall in import than export, the trade balance recorded a surplus of USD3.7 billion dollars.
