South Korea’s exports dropped 1.3% in May compared to the same period last year, according to customs data released on Sunday. This decline is attributed to weakening global demand and increasing uncertainties over Donald Trump’s tariff push. Economists had estimated a 2.4% decline, but this was lower than initially anticipated.
However, the average daily exports figure showed a more modest increase of 1%. While both figures indicate weakness in the export sector, they suggest that the impact may not be as severe as initially feared. The data highlights the challenges faced by South Korea’s trade-reliant economy amidst growing global economic uncertainty.
Source: https://www.bloomberg.com/news/articles/2025-06-01/south-korea-s-exports-drop-on-tariff-threats-and-political-risks