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South Korea’s exports down for 8th straight month

Sejong - South Korea’s exports decreased 11 percent in July from a year earlier, extending their on-year fall to an eighth consecutive month, amid the drawn-out trade dispute between the United States and China

Sejong - South Korea’s exports decreased 11 percent in July from a year earlier, extending their on-year fall to an eighth consecutive month, amid the drawn-out trade dispute between the United States and China, and a decline in prices of semiconductors, show data reported by Yonhap news agency.

Outbound shipments came to US$46.14 billion for July, down from the $51.8 billion tallied a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy. Imports fell 2.7 percent on-year last month to $43.7 billion, the ministry added. The country’s trade surplus came to $2.44 billion in July, marking 90 straight months in which the country’s exports have exceeded imports.

The sluggish exports were mostly attributable to the growing trade disputes around the globe, including the rift between the United States and China, according to the ministry.

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