S. Korea exports decline on weak chip demand

SEOUL - South Korea's exports fell for three straight months through February, posting a double-digit decline last month on weak demand for locally made semiconductors, a recent government report showed.

Exports, which account for about half of the economy, declined 11.7 percent over the year to $39.56 billion in February, according to the Ministry of Trade, Industry and Energy.

The downward trend continued, after sliding 1.2 percent in December last year and 5.8 percent in January. It marked the first time since July 2016 that the outbound shipment kept falling for three months in a row.