Exports fell for the 12th consecutive month in September, but the trade balance posted a surplus for the fourth straight month.

According to the Ministry of Trade, Industry and Energy on Sunday, the nation logged a trade surplus of three-point-seven billion U.S. dollars last month.

In June, the country recorded a trade surplus for the first time in 16 months since February of last year.

Exports in September dropped four-point-four percent on-year to 54-point-six billion U.S. dollars, declining for the 12th consecutive month since last October, the longest shortfall since the nation logged a deficit for 14 months between December 2018 and January 2020.

The decline in exports, however, weakened as shipments of semiconductors increased to nine-point-nine billion dollars last month, the largest since October of last year.

Despite the decrease in exports, a trade surplus was recorded as imports declined more than exports due to drops in the prices of energy, falling 16-point-five percent on-year to 50-point-96 billion dollars last month.