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Trade Deficit Extends for 6th Month on High Energy Prices

Written: 2022-10-01 13:38:05Updated: 2022-10-02 16:34:36

Trade Deficit Extends for 6th Month on High Energy Prices

Photo : YONHAP News

South Korea posted a smaller trade deficit in September, according to trade ministry data published Saturday.

The country suffered a trade deficit for the sixth consecutive month, the first such record since 1997.

Exports last month grew two-point-eight percent on-year to over 57 billion dollars and imports, due to surging global energy prices, jumped 18-point-six percent to 61-point-two billion dollars, resulting in a deficit of three-point-seven billion. 

The size of the deficit, however, is sharply down from the previous month's nine-point-five billion dollars.

Other countries that heavily rely on energy imports such as Japan, Italy and France are also posting trade deficits.

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