Back To Top

Exports up 21.3% in May; trade deficit extended on high energy prices

Containers are stacked up for outbound shipments at Gamman Pier in Busan on Jan 21. According to provisional tallies by customs authorities, the country's exports came in at $34.4 billion during the first 20 days of the year, up 22 percent from a year before. (Yonhap)
Containers are stacked up for outbound shipments at Gamman Pier in Busan on Jan 21. According to provisional tallies by customs authorities, the country's exports came in at $34.4 billion during the first 20 days of the year, up 22 percent from a year before. (Yonhap)

South Korea's exports rose 21.3 percent in May from a year earlier on solid demand for chips and petroleum products, but they suffered a trade deficit due to high global energy prices, data showed Wednesday.

Outbound shipments stood at $61.52 billion last month, up from $50.73 billion a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy.

It is the highest tally for any May since the ministry began compiling related data in 1956. The previous record was set a year earlier.

Imports jumped 32.0 percent on-year to $63.22 billion on soaring global energy prices, leading the country to post a trade deficit of $1.71 billion, the data showed. (Yonhap)

MOST POPULAR
LATEST NEWS
padcast
Korea Herald Youtube
subscribe