S. Korea's exports down 16.6% in January; trade deficit hits record high
EconomyFeb 1, 2023
South Korea's exports logged an on-year decline for the fourth consecutive month in January on weak global demand for semiconductors and other items amid an economic slowdown, the industry ministry said Wednesday. The country also suffered the largest ever monthly trade deficit on high energy prices last month, deepening concerns over the country's economic growth momentum. Outbound shipments fell 16.6 percent on-year to come to $46.27 billion in January, following a 9.5 percent on-year fall the