S. Korea's exports, imports reduce for 8 months

Both exports and imports in South Korea reduced for eight straight months in August on the back of weak global demand for trade and cheap crude oil, a government report showed on Tuesday.

Exports, which account for about half of the economy, tumbled 14.7 percent from a year earlier to 39.33 billion U.S. dollars in August, according to the Ministry of Trade, Industry and Energy.

It was the largest monthly decline since August 2009 when exports plunged 20.9 percent.

Imports shrank 18.3 percent from a year earlier to 34.98 billion dollars, keeping a downward trend for the eighth consecutive month.

Trade surplus was 4.35 billion dollars in August, staying in black for 43 months in a row since February 2012. Endi