Tag - Exports plunge on weak demand

Exports plunge on weak demand, oil prices

South Korea’s exports plummeted 18.5 percent in January from a year ago, recording the largest year-on-year fall since August 2009 when the country was reeling from the global financial crisis. Exports from Korea had been on a downward path for 13 months straight, along with a continuous drop in oil prices and slowing demand from emerging countries, sparking red alert in Asia’s fourth-largest economy, which heavily relies on exports for growth. Overall outbound shipments reached $36.7 billion last month, compared to [...]