Seoul: South Korea's exports dropped 1.3 percent from a year earlier in May, snapping a three-month winning streak, government data showed Sunday. Outbound shipments reached US$57.3 billion last month.
According to Yonhap News Agency, the data was compiled by the Ministry of Trade, Industry and Energy. Imports decreased by 5.3 percent on-year, amounting to $50.3 billion and resulting in a trade surplus of $6.94 billion.
This decline in exports marks a shift in the recent positive trend, which had seen growth over the previous three months. Despite the drop, the country maintained a healthy trade surplus due to the larger reduction in imports.