S. Korea's industrial export shipments plunge in Nov.

SEOUL, Jan. 1 (Yonhap) -- South Korea's industrial shipments for exports plunged
in November as overseas demand was sharply dented amid deepening global recession
woes, the government said Thursday.
The National Statistical Office (NSO) said that the industrial shipment index for
exports fell 12.3 percent in November from a year earlier, the first contraction
in nearly 7 years since January 2002. The fall is also the sharpest reduction
since January 1990.
The lackluster figure is attributable to slumping exports, which dropped around
19 percent on-year in November, the NSO said.
Shipments of electronics parts, computers, communications equipment and vehicles
bound for overseas markets were among the marked decliners, according to the NSO.
Fragile consumer sentiment here also resulted in a decline in shipments for
domestic markets. The NSO said that shipments bound for domestic markets fell
14.3 percent in November from a year earlier.
This marked the second straight month of a year-on-year contraction and the
sharpest fall in a decade, according to the NSO.
kokobj@yna.co.kr
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