S. Korea's export volume falls for 4th month in January

SEOUL, Feb. 28 (Xinhua) -- South Korea's export volume fell for the fourth consecutive month in January on rising worry about a global economic downturn, central bank data showed Tuesday.

The export volume index tumbled 13.0 percent in January from a year earlier, after skidding 3.2 percent in October, 6.4 percent in November and 6.4 percent in December last year, according to the Bank of Korea (BOK).

The continued fall came as rapid interest rate hikes in major economies stoked worry about global economic slump.

The export value index slipped 18.3 percent in January, marking the fastest reduction in 32 months since May 2020.

The import volume index decreased 1.2 percent in January from a year earlier, while the import value index dwindled 2.1 percent, keeping a downward trend for the second successive month.

The net terms-of-trade index for goods, which gauges the amount of import that can be bought with a unit-export proceed, went down 5.2 percent in January on a yearly basis, continuing to slide for 22 months in a row.