(MENAFN) Central bank data showed that South Korea's outbound shipments are likely to remain weak until the third quarter mainly due to slowing growth in China and unfavorable currency circumstances, Yonhap News reported.
A fall in prices of key export products, weakening price competitiveness stemming from a weakening yen and euro as well as slowing growth in China are likely to limit export growth, said the report by the Bank of Korea (BOK).
South Korea's exports shrank for the fourth consecutive month in April due to a cut in oil prices, which in turn, has significantly reduced the price of petroleum and petrochemical products, South Korea's key export items.
The country's overall outbound shipments came to USD46.22 billion last month, down 8.1 percent from the same month last year, according to the Ministry of Trade, Industry and Energy.
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