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S. Korea's export volume falls for 3rd month in May

SEOUL
2023-06-28 13:06

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SEOUL, June 28 (Xinhua) -- South Korea's export volume fell for the third consecutive month in May owing to lower demand for semiconductors, central bank data showed on Wednesday.

The export volume index dipped 0.1 percent in May from a year earlier, after decreasing 2.7 percent in March and 3.5 percent in April, according to the Bank of Korea (BOK).

In terms of volume, the outbound shipment of computers, electronic and optical devices, including semiconductors, retreated 7.3 percent in May on a yearly basis after dropping in double digits for the past months.

The export value index tumbled 14.5 percent in May from a year earlier, keeping a downward trend for the eighth successive month.

The import volume index slipped 3.0 percent, while the import value index dwindled 14.6 percent last month.

The net terms-of-trade index for goods, which gauges the amount of import that can be bought with a unit-export proceed, went down 2.8 percent in May from a year ago on the faster fall in export prices than import prices.

The index continued to slide for 26 months in a row.
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