South Korea May 1-20 exports fall 16.1% on year
Business
That compares with a 14.2 per cent decline in exports for the whole of April
SEOUL (Reuters) - South Korean exports in the first 20 days of May fell 16.1 per cent from a year earlier and imports dropped by 15.3 per cent, customs agency data showed on Monday.
The country's trade balance came in at a $4.3 billion deficit for the May 1-20 period, the data showed.
That compares with a 14.2 per cent decline in exports for the whole of April.
South Korea's heavily trade-dependant economy has been hit hard by faltering global demand. Exports have declined in each of the past seven months on an annual basis, their longest losing streak in three years.
