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S. Korea's exports decline slows in May

All News 09:04 June 01, 2016

SEOUL, June 1 (Yonhap) -- South Korea's exports continued to dwindle from a year earlier in May but the rate of drop slowed significantly, the government said Wednesday.

Outbound shipments came to US$39.78 billion last month, down 6 percent from the same month last year, according to the Ministry of Trade, Industry and Energy.

The 6-percent on-year decline marked the slowest rate of drop since the start of the year. In January, exports plunged 18.5 percent, marking the fastest rate of drop since August 2009.

Imports, on the other hand, continued to shrink at a fast clip, plunging 9.3 percent on-year to $32.7 billion in May.

Trade surplus came to $7.08 billion, marking the 52nd consecutive month of surplus.


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