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S. Korea's exports sink 5.9 pct in 2016

All News 09:10 January 01, 2017

SEJONG, Jan. 1 (Yonhap) -- South Korea's exports fell 5.9 percent last year from a year earlier due largely to a drop in global demand and weak oil prices, government data showed Sunday.

The country's exports reached US$495.5 billion in 2016, while its imports dropped 7.1 percent on-year to $405.7 billion, according to the data released by the Ministry of Trade, Industry and Energy.

Its trade surplus stood at $89.8 billion last year, down slightly from $90.3 billion tallied in 2015, the data showed.

In December, meanwhile, Asia's fourth-largest economy saw its outbound shipments jump 6.4 percent on-year to $45.1 billion, marking the second straight positive monthly figure for the first time in 26 months.

Imports also rose 7.3 percent on-year to $38.1 billion last month, with a trade surplus coming in at $7 billion.


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