Exports Worst in 14 Years
Exports last month declined 16 percent, the worst performance in 14 years.According to the Ministry of Commerce, Industry and Energy on March 2, exports reached 9.4 billion dollars which is 16 percent less than that of the same period in 1998.
This is the worst since the negative 19.4 percent growth rate in January 1985.
Although, there is some comfort in the fact that this February had only 28 days, and, unlike last year, there was no gold-collecting campaign.
Several popular import items markedly increased like golf clubs(356 percent), automobiles(25.4 percent) and jewelry(46.9 percent).
However, Korea still enjoys a trade surplus trend as it has for the past 16 consecutive months.
with the Korea JoongAng Daily
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