South Korea Trade Surplus Narrows on Lower Exports


South Korean trade surplus decreased to USD 5.35 billion in May of 2014 from USD 5.92 billion in the same month a year earlier. Exports recorded the first annual decline since the beginning of the year and the sharpest since September of 2013.

Exports contracted 0.9 percent year-on-year to USD 47.88 billion, after rising 9 percent in the previous month. A 32 percent surge in sales to the European Union and a 4.5 percent increase in shipments to the United States were not enough to offset a 9 percent fall in exports to China. Sales fell 9 percent yoy, the fastest drop since 2009. Calendar effects also contributed to the decline, as unusual long holidays fell in May this year both in South Korea and China.

Imports increased 0.3 percent year-on-year to USD 42.5 billion.

South Korea Trade Surplus Narrows on Lower Exports


Joana Taborda | joana.taborda@tradingeconomics.com
6/2/2014 12:08:51 PM