South Korea Sept exports fall for 12th month, but not as steeply as expected

SEOUL : South Korea’s exports fell for a 12th consecutive month in September, trade data showed on Sunday, but the decline was softer than market expectations.

Overseas sales by Asia’s fourth-largest economy fell 4.4 per cent year-on-year to $54.66 billion in September, compared with an 8.3 per cent loss in August and a 9.1 per cent decline forecast in a Reuters survey of economists.

It was the 12th consecutive month exports fell on an annual basis, but the softest in the streak.

Imports fell 16.5 per cent to $50.96 billion, also milder than the 22.8 per cent drop the previous month and the median 17.6 per cent forecast.

As a result, the country posted a trade surplus of $3.70 billion in September, wider than $0.88 billion in August and the widest since September 2021.