SEOUL :South Korea's exports fell for an eighth straight month in May in annual terms, but the pace was slower than expected with signs that the worst had passed for chip and China-bound shipments.Overseas sales by Asia's fourth-largest economy fell 15.2 per cent year-on-year to $52.24 billion in May, trade m
SEOUL :South Korea's exports fell for an eighth straight month in May in annual terms, but the pace was slower than expected with signs that the worst had passed for chip and China-bound shipments.
Despite one less working day in May, the total value of exported goods was higher than the previous month's $49.58 billion. Compared with a year earlier, there were 1.5 less working days, setting unfavourable base effects. By destination, shipments to China slid 20.8 per cent. It was the 12th straight annual loss, but the pace eased to the slowest in seven months. Those to the United States and European Union declined 1.5 per cent and 3.0 per cent, respectively.
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