SEOUL - South Korean exports tumbled in May for the third straight month, though at a slower pace, as extended global lockdown measures to contain the wider spread of the coronavirus weighed on worldwide demand.
The average exports per working day, excluding the calendar effect, fell 18.4 per cent, compared with a 18.3 per cent fall seen in the previous month. "Exports will remain sluggish until the start of third quarter as global Covid-19 disruption and weak sentiment are expected to persist for sometime," said Chang Jae-chul, an economist at KB Securities.
Monday's data showed overseas sales of semiconductors, the nation's top export item, rose 7.1 per cent from a year earlier, but per-day exports of that jumped 14.5 per cent on-year.
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