(MENAFN) South Korea's exports contracted 3.4 percent in February over a year ago, although the trade surplus soared to a new monthly high as imports dropped at a faster rate, Yonhap News reported.
According to the Ministry of Trade, Industry and Energy, the country's outbound shipments amounted to USD41.46 billion last month, while imports dropped 19.6 percent to USD33.8 billion.
Meanwhile, the trade surplus came to USD7.66 billion, marking the highest amount ever in the country. February's figure marked the 37th consecutive month of recorded surplus.
Exports decline is mainly attributed to a cut in the number of working days as the traditional three-day Lunar New Year's Day break fell in February this year, unlike last year when it was in January.
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