Unshipped containers stacked in Incheon port[Ajunews DB]
South Korean exports tumbled for the first 20 days of this month from a year earlier, casting a cloud over the country’s export-driven economy.
Exports for the March 1-20 period fell 19.2 percent from a year earlier to 23.8 billion US dollars while imports dropped 23 percent to $20.4 billion, Data from the Korea Customs Service showed Monday.
South Korean exports have fallen by double-digit percentage points in each of the past three months. Exports have dropped every single month since the start of 2015.
A drop in March will mark the 15th consecutive month of on-year drops, the longest streak of negative growth since the country began compiling such data in 1970.
South Korea is the world's sixth-largest exporter. Its data gave a reading of the health of the Chinese economy because around a quarter of South Korea's exports are sent to China.
By Alex Lee
reporter
Park Sae-jin
swatchsjp@ajunews.com
