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S. Korea exports revised downwards for September

Published on Oct 14, 2012 11:36 AM
 

SEOUL (REUTERS) - South Korean exports in September fell 2.0 per cent from a year earlier, revised customs data showed on Sunday, slightly worse than a 1.8 per cent fall reported earlier and underscoring the still weak global economy.

Exports to the crisis-hit European Union fell by 5.1 per cent in September from a year earlier, revised data from the Korea Customs Service showed, while those to the United States fell by 0.5 per cent. Shipments to China rose 1.0 per cent.

Following the revision, South Korean exports in the third quarter recorded a 5.6 per cent year-on-year decline, unchanged from the preliminary data.

A survey conducted by the Export-Import Bank of Korea, a state-backed lender specialising in trade financing, indicated fourth-quarter exports will fall by around 5 per cent on an annual basis.