Seoul: South Korea's exports experienced a 2.4 percent decline in the first 20 days of May compared to the same period last year. This drop is attributed in part to reduced shipments to the United States as a result of ongoing tariff measures, according to recent data.
According to Yonhap News Agency, outbound shipments totaled US$31.97 billion from May 1 to May 20, down from $32.74 billion in the corresponding period of the previous year. The data, provided by the Korea Customs Service, highlights the impact of current trade dynamics on South Korea's export performance.
During the same period, imports fell by 2.5 percent year-on-year to $32.22 billion, resulting in a trade deficit of $300 million. This ongoing trade deficit reflects the challenges faced by South Korea in balancing its trade amid international tariff measures.