S. Korea's exports plunge in November

SEOUL, Nov. 21 (Yonhap) -- South Korea's exports plunged 14.3 percent in November
from a year earlier mainly due to deteriorating overseas business conditions,
government data showed Friday.

According to the preliminary data provided by the Knowledge Economy Ministry and
the Korea Customs Service, the nation's exports amounted to US$17.63 billion
during the first 20 days of this month, compared with $20.57 billion in the same
period a year earlier.
Imports fell 2.6 percent to $21.91 billion, bringing the nation's trade shortfall
for this month to $4.27 billion. Its cumulative deficit also increased to $17.91
billion.
South Korea was expected to log a trade shortfall of around $9 billion this year,
the first red ink since 1997 when the nation was hit by an Asia-wide financial
crisis.
The government earlier forecast the country will post a trade deficit for a
second straight year in 2009 mainly due to declining exports amid worries over a
global economic recession.
Trade deficit was projected to amount to $5.6 billion next year, with exports and
imports estimated at $490 billion and $495.6 billion, respectively.
kokobj@yna.co.kr
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