South Korea’s exports decreased more than eleven percent in April from the same month last year.
The Ministry of Trade, Industry and Energy said on Sunday that the country’s exports marked 41 billion U.S. dollars last month, down eleven-point-two percent year-on-year, while imports plunged 14-point-nine percent to 32-point-two billion dollars.
The country’s exports shrank 18-point-nine percent in January, the largest decrease in nearly six-and-a-half years, but the rate of decline slowed to 12-point-two percent in February and eight-point-one percent in March. However, the drop accelerated again in April.
The country’s imports and exports fell for the 16th consecutive month in April and the trade surplus for the month stood at eight-point-eight billion dollars, extending the country’s surplus rally to 51 months.