SEOUL - SOUTH Korean exports fell 17.4 per cent in December from a year earlier, figures on the customs office's website showed on Friday, worse than market expectations for a 16.4 per cent drop in a Reuters poll.

Imports by Asia's fourth-largest economy declined 21.5 per cent in December 2008, the website (http: www.customs.go.kr) showed, hours before the Ministry of Knowledge Economy was due to officially release data.

The sharper decline in imports than exports helped the country post a trade surplus of US$0.67 billion (S$0.96 billion) in the last month of 2008, the figures showed.

But in all of 2008, South Korea suffered a trade deficit of US$13.0 billion, the figures showed. -- REUTERS