(MENAFN) S. Korean exports were worse than predicted in Dec, bearing the brunt of falls in China and other key trading partners, as well as a complete slump in oil prices.
Furthermore, the nation's outbound shipments fell 13.8 percent in the cited month to USD 42.64bn, smaller than the market estimate of USD 44.75bn.
The main reason behind slumping exports was a fall in oil prices, which accounted for 64 percent of the whole drop in exports.
For the total of last year, the country's exports plunged 7.9 percent on-year to reach USD 527bn, while its imports decreased 16.9 percent to USD 437bn.
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