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South Korea saw its exports sink 24.3 percent in April from a year earlier due to the COVID-19 pandemic and falling oil prices. The country also saw the first monthly trade deficit since 2012, data from the Trade Ministry and the Korea Customs Service showed.
Exports reached $36.9 billion, compared to $48.7 billion a year ago. Imports also declined 15.9 percent on-year to $37.8 billion. Imports surpassed exports by $950 million in the month, breaking the 98 consecutive months of trade surplus.
(khnews@heraldcorp.com)
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Articles by Korea Herald
