South Korea’s exports are expected to drop for the 12th month in a row this month, a poll showed Nov. 25, due mainly to sinking overseas demand for chips.
Outbound shipments are likely to fall 10.8 percent on-year to $45.9 billion this month, according to the poll by Yonhap Infomax, the financial news arm of Yonhap News Agency.
The country’s imports are projected to reach $41.3 billion for a trade surplus of $4.6 billion, marking 94 straight months when the country‘s exports exceed imports.
The survey was conducted on six South Korean brokerage houses.
Exports of Asia’s fourth-largest economy have been losing steam due to falling prices of semiconductors, the country’s top export item, and a trade war between the United States and China, its top two trading partners.
By Ram Garikipati and newswires (email@example.com)