South Korea Posts $0.44 Billion Trade Surplus In May

South Korea had a merchandise trade surplus of $0.44 billion in May, the Customs Office said on Monday.

That beat forecasts for a deficit of $1.1 billion following the $1.4 billion shortfall in April.

Exports tumbled 23.7 percent on year in May, missing expectations for a drop of 22.1 percent following the 25.1 percent decline in the previous month.

Imports were down 21.1 percent on year last month versus expectations for a fall of 17.9 percent following the 15.8 percent drop a month earlier.

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