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Biz News Korea(Eng)
S. Korea’s exports in May fall 6% on year in 17-month losing streak
- Collected
- 2016.06.02
- Distributed
- 2016.06.03
- Source
- Go Direct
Exports in May reached $39.8 billion, down 6.0 percent from the same month in 2015, the smallest drop since 5.0 percent contraction in November and sharp easing from double-digit losses since December except for March, according to preliminary trade data from the Ministry of Trade, Industry and Energy on Wednesday.
Daily outbound shipment volume came to $1.85 billion in May, highest so far this year. After plunging to $1.62 billion in January, daily shipment gradually improved to $1.8 billion in February, $1.79 billion in March and $1.82 billion in April.
Exports in Korean currency value gained 0.9 percent in May, the first growth since September last year,
The data refreshed record-breaking losing streak, contracting for 17 straight months.
By item, exports of home electronic appliances, computer products and petrochemical and textile products turned upward while those of semiconductor, general machinery, steel products and car parts showed easing in their plunge.
By region, exports to the U.S., Vietnam and the ASEAN have climbed.
The nation’s imports came to $32.7 billion, down 9.3 percent year on year. Both imports and exports sank for 17 months in a row since January in 2015. The nation posted a trade surplus for the record 52nd consecutive month since February in 2012, registering at $7.1 billion in May.
By Kim Gyu-sik
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]