S Korea's May exports fall by 0.9% on fewer working days

02 June 2014 04:20 Source:ICIS News

SINGAPORE (ICIS)--South Korea’s exports slipped by 0.9% year on year in May, weighed by a four-day holiday during the month that hampered output, the Ministry of Trade, Industry and Energy (MOTIE) said on Sunday.

The country’s exports fell by 0.89% year on year to $47.9bn in May, while imports were 0.9% lower at $42.5bn, it said in a statement.

This resulted in a trade surplus of around $5.4bn, the 28th consecutive month that the country has reported a trade surplus, MOTIE said.

MOTIE projects a 6.4% year-on-year rise in exports this year.

By Nurluqman Suratman