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South Korea December exports fall 13.8pc, worst since 19pc drop in 2009
SOUTH Korea's exports fell for a 12th straight month in December, capping its worst yearly trade performance since the 2008-2009 global financial crisis, Reuters reports
Low oil prices, slowdowns in China and other emerging economies and weakness in Europe sent global trade plunging this year, dealing a sharp blow to trade-reliant Asian countries.
South Korea's exports in December fell 13.8 per cent in dollar terms from a year earlier while imports slumped 19.2 per cent, said the Ministry of Trade, Industry and Energy.
Exports for all of 2015 dropped 7.9 per cent - the worst since a 13.9 per cent decline in 2009 - but are expected to rise 2.1 per cent in 2016, the ministry said.
"Sluggish growth in China, sustained low oil prices and stunted growth in emerging economies due to higher rates in the US pose risks to exports this year," the ministry said in a statement.
South Korea is the world's sixth-largest exporter and the first major country to publish December trade figures.
Low oil prices, slowdowns in China and other emerging economies and weakness in Europe sent global trade plunging this year, dealing a sharp blow to trade-reliant Asian countries.
South Korea's exports in December fell 13.8 per cent in dollar terms from a year earlier while imports slumped 19.2 per cent, said the Ministry of Trade, Industry and Energy.
Exports for all of 2015 dropped 7.9 per cent - the worst since a 13.9 per cent decline in 2009 - but are expected to rise 2.1 per cent in 2016, the ministry said.
"Sluggish growth in China, sustained low oil prices and stunted growth in emerging economies due to higher rates in the US pose risks to exports this year," the ministry said in a statement.
South Korea is the world's sixth-largest exporter and the first major country to publish December trade figures.
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