SEOUL: South Korea s exports in August suffered their biggest fall in six years, hit by weak global demand and falling prices, the trade ministry said Tuesday.
Exports plunged 14.7 percent on-year to $39.33 billion, the largest percentage fall since August 2009 when the comparable figure dipped 20.9 percent on-year.
It also represented the eighth consecutive month of decrease in exports.
South Korea, whose economy relies heavily on trade, saw its exports fall 10.9 percent on-year in May.
The percentage decrease then somewhat eased in the following two months, with a 1.8 percent decline in June and 3.3 percent in July.
Imports in August dived at a greater rate of 18.3 percent on-year to $34.98 billion, leaving a $4.35 billion trade surplus.
The trade balance has been in the black since February 2012.
