Outbound shipments in May posted the second-largest volume to date, but the trade balance remained in the red for the second straight month due to surging global energy prices.

According to data from the Ministry of Trade, Industry and Energy released on Wednesday, exports in May rose 21-point-three percent from a year earlier to total 61-point-five billion dollars.

The export volume is the largest for the month of May and the second-largest ever, following the record 63-point-eight billion dollars that was set in March this year.

Outbound shipments expanded for the 19th consecutive month, reflecting monthly-record growths in semiconductors, petrochemicals, steel and petroleum products.

Imports also surged last month, as global energy prices continue to expand amid the ongoing Ukraine war. Inbound shipments jumped 32 percent on-year to 63-point-two billion dollars.

That led to a trade deficit of one-point-seven billion dollars, with the balance remaining in the red since April.