South Korea posts trade surplus in May

SEOUL (XINHUA) – South Korea managed to post trade surplus in May after recording deficit in the previous month, customs office data showed yesterday.

Revised trade surplus amounted to USD450 million in May, turning around from a deficit of USD1.6 billion in April, according to the Korea Customs Service.

Export, which takes up about half of the South Korean economy, tumbled 23.6 per cent from a year earlier to USD34.9 billion in May, while import slumped 21 per cent to USD34.45 billion.