Hyrra Features the Latest and Most Talked-About Topstories News and Headlines from Around the World.
⎯ 《 Hyrra • Com 》

South Korea Sept exports fall for 12th month, but not as steeply as expected

2023-10-01 08:55
SEOUL South Korea's exports fell for a 12th consecutive month in September, trade data showed on Sunday, but
South Korea Sept exports fall for 12th month, but not as steeply as expected

SEOUL South Korea's exports fell for a 12th consecutive month in September, trade data showed on Sunday, but the decline was softer than market expectations.

Overseas sales by Asia's fourth-largest economy fell 4.4% year-on-year to $54.66 billion in September, compared with an 8.3% loss in August and a 9.1% decline forecast in a Reuters survey of economists.

It was the 12th consecutive month exports fell on an annual basis, but the softest in the streak.

Imports fell 16.5% to $50.96 billion, also milder than the 22.8% drop the previous month and the median 17.6% forecast.

As a result, the country posted a trade surplus of $3.70 billion in September, wider than $0.88 billion in August and the widest since September 2021.

(Reporting by Jihoon Lee; Editing by Leslie Adler)