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S.Korea's export falls 5.8 pct in January on weak demand for chip, oil product
Last Updated: 2019-02-01 15:06 | Xinhua
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South Korea's export fell in the first month of this year on weak demand for locally-made semiconductor and oil product, a government report showed Friday.

Export, which accounts for about half of the export-driven economy, was 46.35 billion U.S. dollars in January, down 5.8 percent from the same month of last year, according to the Ministry of Trade, Industry and Energy.

It marked the second consecutive month of reduction after sliding 1.2 percent in December last year.

Import shed 1.7 percent to 45.02 billion dollars, sending the January trade surplus to 1.33 billion dollars. The trade balance stayed in the black for 84 months in a row.

The export decline came as demand weakened for semiconductor, which took up around 20 percent of the country's total outbound shipment. Chip export tumbled 23.2 percent in January from a year earlier.

Exports for oil product and petrochemicals shrank 4.8 percent and 5.3 percent, respectively, on lower global crude oil price.

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