Seoul, January 01 (QNA) - South Korea's exports decreased 7.4% on-year in 2023 amid the sluggish performance of chips coupled with global economic uncertainties.
Outbound shipments stood at $632.6 billion last year, according to data compiled by the South Korean Ministry of Trade, Industry and Energy, cited by Yonhap News Agency.
Imports decreased 12.1% on-year to $642.7 billion in 2023, resulting in a trade deficit of $9.97 billion.
For December, monthly exports advanced 5.1% on-year to $57.6 billion, rising for the third consecutive month.
Eports, a key economic growth engine for South Korea, rebounded in October after 13 months of an on-year decline.
Imports moved down 10.8 percent on-year last month to $53.1 billion, resulting in a trade surplus of $4.48 billion. It marked the second consecutive month for exports to outpace imports. (QNA)