In this file photo, containers are waiting to be shipped at a port in Busan, about 385 kilometers southeast of Seoul, on Apr. 30, 2025. (Yonhap)
In this file photo, containers are waiting to be shipped at a port in Busan, about 385 kilometers southeast of Seoul, on Apr. 30, 2025. (Yonhap)

The South Korean economy is facing "increasing" downward pressure largely due to a slowdown in exports amid lingering trade uncertainties and a decline in domestic consumption, the finance ministry said Friday.

It marks the fifth consecutive month the Ministry of Economy and Finance has made such an assessment in its monthly economic report, the Green Book.

In the May edition, the ministry also noted a "slowdown in exports" for the first time, reflecting concerns over an exacerbating global trade environment fueled by US tariffs on steel, automobile and other imports.

The report said South Korea saw an increase in production, driven by the semiconductor industry, in March, while consumption and investment decreased at the same time.

The country added 194,000 jobs from a year earlier in April but saw a sharp drop in quality jobs in the manufacturing and construction sectors.

Consumer prices increased 2.1 percent on-year last month due to an increase in prices of agro-fisheries products.

"The government will swiftly execute the 13.8 trillion-won ($9.9 billion) extra budget to support export companies and boost the industrial competitiveness, and also help efforts to restore the domestic economy," the ministry said. (Yonhap)