(MENAFN) South Korea's outbound shipment growth dropped for the fourth straight year as the global economic slump cut demand and weak oil prices lowered export prices, Yonhap News reported.
According to the data by the Korea Investment Trade Association, the country's exports increased 4.4 percent last year in terms of volume, well higher than the global average expansion of 3.1 percent.
But the 2014 figure compares with a 4.8 percent gain in 2013 and a 5.6 percent rise in 2012. The reading also marks a sharp slowdown from a 13.9 percent growth in 2011 and a 22 percent growth in 2010.
The country has also seen its export prices decline for the third consecutive year, posting a 2.2 percent fall, a 1.9 percent drop and 3.7 percent slide, respectively, in 2014, 2013 and 2012, the data showed.
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