South Korea’s exports fell for five consecutive months in February, with chip exports plummeting 42.5%

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South Korea’s Ministry of Industry,Trade and Resources said on Wednesday that South Korea’s exports fell for the fifth consecutive month in February,mainly due to the weak global semiconductor demand caused by the economic slowdown.

According to the data,South Korea’s exports fell 7.5%year-on-year in February to US$50.1 billion.

South Korea’s Ministry of Industry,Trade and Resources said that the export of semiconductors,the main export product of South Korea,fell 42.5%last month due to the decline in demand and chip prices.