South Korea’s exports fell for the 10th consecutive month in September due to the continuing global trade tensions, though the pace of decline moderated slightly.
Exports fell 11.7% from a year earlier to $44.71 billion, a milder drop than the prior month’s revised 13.8% decline, according to preliminary data released by the trade ministry on Tuesday.
The latest reading missed a median market forecast for a 10.2% drop in exports.
Imports decreased 5.6% from a year earlier to $38.74 billion after a revised 4.2% drop in the previous month, with the trade surplus coming in at $5.97 billion. The median forecast was for a 4.2% fall in imports and $4.94 billion in trade surplus.
The trade-dependent Korean economy is feeling the pinch from the protracted U.S.-China trade dispute. The deepening Korea-Japan spat over Japan’s restrictions on exports of some key high-tech materials is also weighing on Korean memory-chip and display makers.
Write to Kwanwoo Jun at email@example.com