South Korea’s export contract for the second consecutive month

South Korea’s exports contracted for a second straight month in November as global demand slowed.

Exports fell 14% to $51.91 billion from a year earlier, following a 5.7% decline in October, according to preliminary data from Seoul’s trade ministry.

The fall in exports was higher than market expectations of a 10.5% decline.

Shipments to China, the country’s largest trading partner, fell sharply from a year ago as demand for semiconductors, petrochemicals and smartphones slowed.

After a 9.9 percent increase in October, imports rose 2.7 percent to $58.93 billion from a year ago, while trade totaled $7.01 billion.

South Korea

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