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S.Korean exports rise in November on higher item prices

Xinhua, December 1, 2016 Adjust font size:

South Korean exports, which account for about half of the economy, managed to rebound last month on higher prices of export items, a government report showed on Thursday.

Exports reached 45.5 billion U.S. dollars in November, up 2.7 percent from a year earlier, according to the Ministry of Trade, Industry and Energy (MOTIE).

The November exports mark the first rebound in three months, after rising for the first time in 20 months in August.

The country's overseas shipments remained sluggish on falling global trade, caused by protectionist moves and the world's economic slowdown.

Higher prices of export items, including semiconductors, led the November turnaround. Exports to China, South Korea's largest trading partner, rebounded in 17 months at 11.7 billion dollars last month that was this year's largest.

Imports advanced 10.1 percent over the year to 37.5 billion dollars in November, sending the monthly trade surplus to 8 billion dollars. The country's trade balance has stayed in the black for 58 months since February 2012. Endit