South Korea exports fall 0.9 percent in May

South Korea exports fall 0.9 percent in May
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Summary Exports in May amounted to $47.88 billion compared to $48.31 billion a year ago.

SEOUL (AFP) - South Korea s exports in May fell 0.9 percent from a year ago largely due to fewer working days that hampered production, state data showed Sunday.

Exports in May amounted to $47.88 billion compared to $48.31 billion a year ago, the trade ministry said, blaming a four-day holiday early in the month.

Imports amounted to $42.53 billion, up 0.3 percent from $42.39 billion a year ago, leaving a $5.3 billion trade surplus, the ministry said.

It was the 28th consecutive month that South Korea -- Asia s fourth-largest economy -- has posted a trade surplus.

Exports to the Europe and the United States rose thanks to growing shipments of cars and petrochemical products, while those to China -- the South s top trading partner -- and Japan slowed, it said.

For 2013, the South s exports grew 2.1 percent while imports fell 0.8 percent, which produced a trade surplus of $44.09 billion. The trade ministry forecasts a 6.4 percent rise in exports this year.
 

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