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Korea’s exports shrink 2.7% on-year in June

[THE INVESTOR] Korea’s exports continued to drop from a year earlier in June, but the rate of drop slowed significantly, the government said July 1.

Exports came to US$ 45.3 billion last month, down 2.7 percent from the same month last year, according to the Ministry of Trade, Industry and Energy.

Exports have decreased for the 18th consecutive months in June. The rate of decline, however, slowed from a 6 percent drop in May.

The imports shrank at a faster rate, falling 8 percent on-year to $33.66 billion in June.

The trade surplus posted US$11.64 billion, marking the 53rd consecutive month of surplus.