South Korea’s exports declined for the first time in four months in May, driven by a drop in shipments to the United States and China due to global trade conflict. The decline was 1.3% from the same month last year, with total exports reaching $57.27 billion.
The South Korean government attributed the decline to US President Donald Trump’s tariffs, which have affected key markets such as China and the US. Industry and Trade Minister Ahn Duk-geun said that the declines in exports to both countries suggest that US tariff measures are having an impact on global trade.
However, exports to other regions such as Southeast Asia and Europe rose, with those to Taiwan increasing by 49.6%. Semiconductors saw a significant surge in demand, driven by strong chip sales.
Despite the decline, South Korea’s imports fell by 5.3% to $50.33 billion, resulting in a trade balance surplus of $6.94 billion – the largest since June 2024. The latest trade data comes as US-China tensions remain high, with Trump threatening to take tougher action against China over alleged violations of their truce agreement.
Source: https://www.reuters.com/world/china/south-korea-exports-fall-tariffs-hit-us-china-shipments-2025-06-01