South Korea’s exports decreased at a faster-than-expected pace in December, marking its twelfth successive monthly decline, the Ministry of Trade, Industry and Energy said Friday.
Exports plunged 13.8 percent year-over-year in December, exceeding economists’ expectations for a 11.7 percent drop.
Similarly, imports tumbled 19.2 percent in December from a year ago, which was worse than the 18.0 percent fall expected by economists.
The visible trade surplus of the country shrank to $7.16 billion in December from $10.32 billion a month earlier. The expected surplus for the month was $8.37 billion.
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