South Korea’s exports post steepest fall in six years in Jan
South Korea’s decline in export activities were attributed to a slowdown in the Chinese economy, weaker global demand and plunging oil prices. The country’s imports, meanwhile, posted a larger decline of 20.1% from a year earlier following a 19.2% fall in December. Analysts’ estimations had called for a 15.1% drop.
The ministry reported that South Korea’s 2015 exports fell 8%, the first yearly contraction in three years while the economy grew 2.6%, slower than the previous year’s growth of 3.3%.
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