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Financial News: South Korea Has $1.71 Billion Trade Shortfall In

South Korea Has $1.71 Billion Trade Shortfall In May

05/31/2022 - 20:09:00 (RTTNews)

(RTTNews) - South Korea posted a merchandise trade deficit of $1.71 billion in May, the Customs Office said on Wednesday.

That beat forecasts for a deficit of $2.59 billion following the $upwardly revised $2.51 billion shortfall in April.

Exports were up 21.3 percent on year, topping expectations for an increase of 19.3 percent following the upwardly revised 12.9 percent gain in the previous month (originally 12.6 percent).

Imports surged an annual 32.0 percent versus forecasts for a jump of 31.9 percent after rising 18.6 percent a month earlier.

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