Korea's exports rise 3.7% in April; shipments to US down 6.8%

Korea's exports gained 3.7 percent from a year earlier in April, marking a third consecutive month of increase, while outbound shipments to the United States dropped sharply on the Donald Trump administration's hefty tariffs, data showed Thursday. Outbound shipments came to $58.2 billion last month, the highest-ever for an April, according to data compiled by the Ministry of Trade, Industry and Energy. Imports dropped 2.7 percent on-year to $53.3 billion, resulting in a trade surplus of $4.88 billion. Exports to the U.S. decreased 6.8 percent on-year to $10.6 billion, leading to a $900 million drop in Seoul's trade surplus with the U.S. from a year earlier. The sharp decline in shipments to the U.S. is attributable to a fall in shipments of automobiles and machinery, the ministry said. On the other hand, shipments of petroleum products, rechargeable batteries and wireless communications equipment to the U.S. increased. Exports to China rose 3.9 percent on-year to $10.9 billion and exports to the Association of Southeast Asian Nations (ASEAN) increased 4.5 percent to $9.4 billion. OutboundWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times