South Korea's April exports post first decline in 18 months
Shipping containers at a cargo transport compound in Port of Incheon / Korea Times file
South Korea's exports retreated in April from a year earlier, marking the first dip in 18 months, largely due to a base effect, government data showed Tuesday.
Outbound shipments reached $50.06 billion last month, down from $50.84 billion a year ago, according to the data compiled by the Ministry of Trade, Industry and Energy.
Imports surged 14.5 percent on-year to $43.45 billion.
South Korea's trade surplus came to $6.61 billion, marking 75 straight months in which the country's exports have exceeded imports, the ministry said.
The ministry said last month's outbound shipment decreased as local shipyards exported offshore facilities worth $5.45 billion in April last year, and companies pushed out exports ahead of the scattered holidays in early May.
When ship exports were excluded from calculation, April's exports gained 10.4 percent on-year to $48.28 billion.
April also marks the second straight month that the country's exports topped the $50 billion mark, according to the ministry. In March, the comparable figure was $51.58 billion.
In the first four months of the year, the country's cumulative exports reached a record $195.5 billion, up 6.9 percent from a year earlier. (Yonhap)