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S. KOREAN EXPORTS PLUNGE 18.3 PCT IN NOVEMBER.
SEOUL, Dec. 1 (Yonhap) -- South Korean exports nosedived 18.3 per cent from a year earlier to US$29.26 billion in November due to a global recession, a government report showed Monday, dealing a blow to the export-driven economy.
The country's imports also dropped 14.6 per cent to $28.96 billion last month, resulting in a trade surplus of $297 million, according to the report by the Ministry of Knowledge Economy.
November's drop in exports was the largest since December 2001 when overseas shipments tumbled 20.4 per cent on-year. The trade surplus marks the third time this year that total exports exceeded imports on a monthly basis. The nation's trade deficit came to $13.34 billion in the first 11 months of this year.
According to the report, ship exports surged 34.7 per cent on-year in November, but overseas shipments of all other major export items dropped by double digits.
Exports of auto ...
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Source: HighBeam Research, S. KOREAN EXPORTS PLUNGE 18.3 PCT IN NOVEMBER.