SEOUL :South Korea's exports in December fell from a year earlier for the third consecutive month, data showed on Sunday, with the outlook clouded by a Chinese economy fighting a surge in COVID-19 cases at a time of slowing global growth.South Korea is the first major exporting economy to release trade data e
SEOUL :South Korea's exports in December fell from a year earlier for the third consecutive month, data showed on Sunday, with the outlook clouded by a Chinese economy fighting a surge in COVID-19 cases at a time of slowing global growth.
The trade ministry data showed exports fell in December by 9.5 per cent from a year earlier, as sharp declines in shipments to China and Southeast Asia more than offset modest growth in sales to the United States and the European Union. President Yoon Suk-yeol said in his New Year's address that his government would make boosting exports a top policy priority in 2023, saying exports are the basis and source of jobs for the trade-reliant economy.
The trade ministry has said it would provide strong policy support to exporters to avoid a decline in exports in 2023, which the government officially projects will fall 4.5 per cent due to the global economic slowdown.
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