SEOUL, Dec 1 (NNN-YONHAP) – South Korea’s export, recorded a double-digit fall last month, leading to trade deficits for the eighth consecutive month, government data showed, today.
Export, which takes up about half of South Korea’s export-driven economy, plunged 14.0 percent from a year earlier, to 51.91 billion U.S. dollars in Nov, according to the Ministry of Trade, Industry and Energy.
The outbound shipment kept sliding for the second straight month, after reducing 5.7 percent in Oct, the first export decrease in two years since Oct, 2020.
Import rose 2.7 percent to 58.93 billion dollars in Nov, sending the trade deficit to 7.02 billion dollars.
The trade balance has stayed in red since Apr, on the back of higher energy import cost and sluggish export.– NNN-YONHAP
