South Korea’s exports posted a drop of more than ten percent for the third straight month.

The Ministry of Trade, Industry and Energy said on Tuesday that the country’s outbound shipments reached 36-point-four billion U.S. dollars in February, down 12-point-two percent on-year.

Exports decreased 14-point-one percent on-year in December while they plunged 18-and-a-half percent in January.

The ministry said that amid low oil prices, falling unit prices and the global economic slowdown, the February decline narrowed from January’s 18-point-five percent as exports of major items except in the shipbuilding sector improved.

Imports, meanwhile, marked 29 billion dollars last month, down 14-point-six percent on-year.

The nation’s exports and imports shrank for 14 straight months since January last year.

South Korea's trade surplus came to seven-point-four billion dollars in February, posting a trade surplus for the 49th consecutive month since February 2012.