South Korea’s exports fall 5.9% in September

According to media reports, data released by South Korea’s Trade, Industry and Energy Ministry showed that the country’s total exports fell 5.9% year over year to $40.9 billion in September after having risen for the first time in 20 months in the month of August. This decline was attributed mostly to the strike at Hyundai Motor as well as Samsung’s callback of the Galaxy Note 7, plus fewer ships being built and delivered.

Meanwhile, South Korea’s total imports also fell 2.3% year over year to $33.8 billion in September. Accordingly, the country’s trade surplus widened to $7.1 billion last month.