The FINANCIAL — South Korea’s exports fell more sharply than expected in April, data showed on May 1, according to Nasdaq.
Exports declined 8.1% from a year earlier to $46.22 billion, following a revised 4.3% drop in March, according to provisional data at the trade ministry. The April reading compares with the median 6.3% decline forecast in a Wall Street Journal survey of economists.
Imports plunged 17.8% from a year earlier to $37.73 billion in April, following the 15.3% decrease in March. The survey had forecast a 15.2% drop in April.
The trade surplus widened to $8.49 billion in April from the previous month’s revised $8.38 billion. The April reading beat the poll’s projection of a $8 billion surplus.
The trade balance has been in the black since February 2012.
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