Seoul: South Korea's exports ended a 15-month winning streak in January, as the country experienced a decrease in the number of business days due to the extended Lunar New Year holiday, according to data released Saturday.

According to Yonhap News Agency, outbound shipments fell 10.3 percent compared to the previous year, amounting to US$49.1 billion last month. The data was compiled by the Ministry of Trade, Industry and Energy.

Imports also saw a decline, dropping 6.4 percent on-year to $51 billion. This decrease in imports resulted in a trade deficit of $1.89 billion, marking South Korea's first trade deficit in 20 months.