(Corrects to remove extraneous words in first paragraph)SEOUL :South Korea's exports fell for an eighth straight month in May in annual terms, data showed on Thursday, although by less than expected. Overseas sales by Asia's fourth-largest economy fell 15.2 per cent year-on-year to $52.24 billion in M
SEOUL :South Korea's exports fell for an eighth straight month in May in annual terms, data showed on Thursday, although by less than expected.
Overseas sales by Asia's fourth-largest economy fell 15.2 per cent year-on-year to $52.24 billion in May, the trade ministry data showed, compared with a drop of 14.3 per cent in April and a 16.8 per cent decline tipped in a Reuters survey.Imports fell 14.0 per cent to $54.34 billion in May, faster than the 13.3 per cent fall seen in April and the fastest since August 2020. Economists had expected a 14.5 per cent decline in the survey.
As a result, the country posted a trade deficit of $2.10 billion in May, the 15th month in a row the export-reliant economy has suffered a trade deficit.
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