South Korea’s exports shrank 15-point-eight percent from a year ago in October, which is the largest drop since August 2009.
 
The Ministry of Trade, Industry and Energy said on Sunday that the country’s exports contracted eleven percent in May and the drop slowed in June and July before marking a sharp drop again of 14-point-nine percent in August.
 
Exports of petroleum plunged 44-point-nine percent, while those of petrochemical products slipped 31-point-six percent last month.
 
The shipbuilding industry posted the largest decline of 63-point-seven percent as it failed to export a single offshore plant.
 
However, shipments of mobile communication devices jumped 42-point-one percent year-on-year.
 
By region, exports to China declined eight percent, while shipments to the United States and Europe contracted eleven-point-four percent and 12-point-five percent, respectively.
 
South Korea's imports fell 16-point-six percent on-year to 36-point-78 billion dollars in October.
 
The country's exports and imports declined for the tenth straight month in October, while its trade surplus came to six-point-69 billion dollars last month, marking the 45th consecutive month that the nation recorded a surplus.