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.