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Korea's exports down for 12th month amid trade rows, chip prices

Industry 09:00 December 01, 2019

By Kang Yoon-seung

SEOUL, Dec. 1 (Yonhap) -- South Korea's exports slipped 14.3 percent in November from a year earlier to extend their slump to a 12th consecutive month, data showed Sunday, amid the protracted trade row between the United States and China, and an extended slump in chip prices.

Outbound shipments reached US$44.1 billion last month, compared with $51.4 billion a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy.

Imports fell 13 percent on-year last month to $40.7 billion, the ministry added, decreasing for the seventh consecutive month.

The country's trade surplus came to $3.37 billion in November, marking 94 straight months in which the country's exports have exceeded imports.

For the year, the country is projected to ship goods worth below $600 billion. South Korea's outbound shipments surpassed the milestone for the first time in 2018, hitting $604.9 billion.


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