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Biz News Korea(Eng)
S. Korea’s exports in July down 10.2%, biggest fall in 3 months
- Collected
- 2016.08.01
- Distributed
- 2016.08.02
- Source
- Go Direct
The nation’s exports in July reached $41.05 billion, down 10.2 percent from the same month of last year, according to the Ministry of Trade, Industry and Energy on Monday. Hopes had been raised after the fall in exports eased to 5.9 percent in May and 2.7 percent in June.
The ministry said fewer working days and reduced shipment delivery attributed to the sharp fall in July.
When excluding the temporary factors, the nation’s exports would have dropped 1.6 percent, the smallest in a year. Exports in the computer sector rose 39.1 percent, the highest since January in 2010.
The nation’s imports in July declined 14 percent from the same month last year to $33.25 billion.
Both exports and imports continued to decrease for 19 straight months. The nation posted a trade surplus for the record 54th consecutive month since February in 2012, registering at $7.79 billion in July.
By Seo Dong-cheol
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