Arab Today, arab today south korea exports down for seventh straight month in july
Last Updated : GMT 06:58:51
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South Korea exports down for seventh straight month in July

Arab Today, arab today

Arab Today, arab today South Korea exports down for seventh straight month in July

South Korea exports down for seventh straight
Seoul - AFP

South Korea's exports shrank in July for a seventh straight month due to sluggish global demand and low oil prices, government data showed Saturday.

Exports fell 3.3 percent from a year earlier to $46.61 billion in July, while imports plunged 15.3 percent to $38.85 billion, the Ministry of Trade, Industries and Energy said.

Car exports fell 6.2 percent on-year to $3.99 billion, while shipments of mobile communication devices including cellphones plunged 16 percent to $2.15 billion, it said.

South Korean shipments to China shrank 6.4 percent from a year earlier, the ministry said.

The country's trade surplus narrowed to $7.76 billion in July from the previous month's $9.98 billion. The trade balance has been in the black since February 2012.

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