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S. Korea's Exports Jump 45.6% in May, Largest Growth in 32 Years

Written: 2021-06-01 09:40:29Updated: 2021-06-01 14:20:14

S. Korea's Exports Jump 45.6% in May, Largest Growth in 32 Years

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South Korea's exports jumped over 45 percent last month from a year earlier, marking the largest growth for May. 

The Ministry of Trade, Industry and Energy said Tuesday that outbound shipments came to 50-point-seven billion U.S. dollars last month, up 45-point-six percent on-year. 

Asia's fourth largest economy has posted on-year monthly export growth for seven consecutive months since November. 

The ministry said that exports marked the highest for any May and is also the largest on-year gain in 32 years since August 1988. It's also the first time that exports grew by over 40 percent for two straight months. 

Average daily exports came to two-point-42 billion dollars in May, surpassing two-point-four billion dollars for the first time since 2018. 

Imports rose 37-point-nine percent to 47-point-eight billion dollars resulting in a trade surplus of two-point-93 billion dollars. It marks the 13th month in a row that the country has posted a trade surplus.

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