(MENAFN) The Korea Development Institute (KDI) stated that recently, the country's economic growth slowed as exports to the European Union (EU) declined notably, reported Xinhua News.
The KDI, a state-run think tank, said that last month, exports shrank 4.7 percent from last year's same period, adding that shipments to the EU dropped 16.7 percent due to the economic crisis that weakened demand.
It also said that in April, trade surplus contracted to USD2.15 billion, compared with USD2.45 billion in the previous month.
It is worth noting that South Korean consumer prices rose 2.5 percent in the month from 2011's same period, marking the lowest increase in 21 months.
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