SEOUL, July 1 (Xinhua) -- South Korea's export posted a double-digit drop last month on the protracted downturn in business cycle of the global semiconductor industry, a government report showed Monday.
Export, which accounts for about half of the export-driven economy, declined 13.5 percent over the year to 44.18 billion U.S. dollars in June, according to the Ministry of Trade, Industry and Energy.
It was the fastest fall in about three and a half years since January 2016, keeping a downward trend for the seventh consecutive month.
The semiconductor downturn continued as the global chip price plunged 33.2 percent. Petrochemical price dropped 17.3 percent, pulling down the shipment of oil product and petrochemicals.
Chip export declined 25.5 percent in the month, with those for oil product and petrochemicals skidding 24.2 percent and 24.5 percent respectively.
