Exports Fall Further in May

Korea's exports tanked in the first 20 days of this month over continued economic impact of the coronavirus epidemic.

The Korea Customs Service on Thursday said total exports from May 1 to 20 amounted to W20.3 billion, down more than 20 percent on-year (US$1=W1,231).

Petroleum goods fell sharply by more than 68 percent due to constantly plunging international prices, and cars also plunged by more than 58 percent. Ship exports, on the other hand, recovered by around 31 percent and semiconductors around 13 percent.

By region, shipments to the U.S. were down nearly 28 percent. Exports to Japan and Europe fell 18 percent and 22 percent respectively.