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

© Reuters. FILE PHOTO: A container ship leaves Pusan Newport Terminal in Busan, South Korea, July 1, 2021. REUTERS/Kim Hong-Ji/File Photo

SEOUL (Reuters) – 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% year-on-year to $54.66 billion in September, compared with an 8.3% loss in August and a 9.1% 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% to $50.96 billion, also milder than the 22.8% drop the previous month and the median 17.6% 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.

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