SEOUL : South Korea's exports likely fell in April for a seventh consecutive month and their longest falling streak in more than three years, a Reuters survey showed on Thursday, highlighting frail overseas demand as the world economy slows.
Such a contraction would extend a year-on-year run of losses to a seventh month and mark the longest falling streak since January 2020. "Although there has not yet been any sign of a rebounding momentum, the recovery is likely to begin modestly near the end of this quarter or from the next quarter." The country's imports likely fell 10.6 per cent in April year-on-year, according to the survey, accelerating from a 6.4 per cent decline in March and suffering their sharpest drop since August 2020.
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