(MENAFN) On the back of faster drop in imports than exports, South Korea's trade surplus hit a record high of more than USD90 billion over 2015, its history's largest, according to the compiled data.
Accordingly, exports came in at USD527.2 billion, down 7.9 percent from 2014, while Imports deteriorated at a faster pace of 16.9 percent in 2015 from a year ago to touch USD436.8 billion.
The International Monetary Fund (IMF) has stated that the sluggish exports were attributed to many factors, such as the global economic slowdown, low oil prices and falling international trade.
Exports of oil and petchem products dropped 36.6pct and 21.4pct each in 2015 due to low crude oil prices, while shipments of cosmetics and telecommunication devices jumped 53.5pct and 10pct each.
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