South Korea exports fall 0.1pc in August

SEOUL: South Korea's exports fell 0.1 percent in August from a year ago due to strikes at major auto plants, state data showed Monday.

Exports for August amounted to $46.3 billion while imports rose 3.1 percent to $42.9 billion, leaving a trade surplus of $3.4 billion, the trade ministry said.

It marks the 31st consecutive month that South Korea -- Asia's fourth-largest economy -- has posted a trade surplus.

Overseas shipments of most key export items including ships and mobile devices rose, while exports of cars tumbled by 16.9 percent.

Workers at Hyundai -- the country's top automaker -- and its sister company, Kia, staged partial strikes on August 22 and 28 due to dispute with management over wage increases.

Car and auto parts industries account for 14 percent of the country's overall exports.

A change in the auto workers' summer holiday from late July to early August also cut production by $900 million, the ministry said.