S Korea exports post first drop in five years
Tuesday, 2 October 2007
SEOUL, Oct 1 (AFP): South Korea's exports declined in September for the first time in five years as shipments of cars and other key items were hit by a three-day national holiday, officials said today.
Exports fell 0.4 per cent from a year earlier to 29.55 billion dollars in September, the first drop since June 2002, according to the ministry of commerce, industry and energy.
Exports of cars fell 19.1 per cent year-on-year in September.
Imports fell 2.1 per cent to 27.06 billion dollars, bringing the trade surplus to a three-month high of 2.49 billion dollars.
The three-day Chuseok or thanksgiving holiday fell between Monday and Wednesday in September this year and many workers took the entire week off.
Industrial output grew 11.2 per cent year-on-year in August, the National Statistical Office said separately. The faster-than-expected growth followed a 14.3 per cent rise in July.
Exports fell 0.4 per cent from a year earlier to 29.55 billion dollars in September, the first drop since June 2002, according to the ministry of commerce, industry and energy.
Exports of cars fell 19.1 per cent year-on-year in September.
Imports fell 2.1 per cent to 27.06 billion dollars, bringing the trade surplus to a three-month high of 2.49 billion dollars.
The three-day Chuseok or thanksgiving holiday fell between Monday and Wednesday in September this year and many workers took the entire week off.
Industrial output grew 11.2 per cent year-on-year in August, the National Statistical Office said separately. The faster-than-expected growth followed a 14.3 per cent rise in July.