The nation logged a trade deficit for the second consecutive year due to sluggish chip exports amid a weak global demand. 

According to data by the Ministry of Trade, Industry and Energy on Monday, the country’s outbound shipments marked 632-point-seven billion U.S. dollars in 2023, down seven-point-four percent from a year earlier.

Annual imports also declined 12-point-one percent on-year to 642-point-seven billion dollars, resulting in a trade deficit of ten billion dollars.

For the month of December, exports increased five-point-one percent on-year to 57-point-six billion dollars, expanding for the third consecutive month to hit a 17-month high. 

Imports fell ten-point-eight percent on-year to around 53-point-one billion dollars, resulting in a trade surplus of four-point-48 billion dollars.