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South Korea April exports to U.S. 3.9 percent year-on-year, EU 64.9 percent: trade ministry
May 1, 2017 / 1:15 AM / 8 months ago

South Korea April exports to U.S. 3.9 percent year-on-year, EU 64.9 percent: trade ministry

SEOUL (Reuters) - South Korea’s exports to the United States rose 3.9 percent in April from a year earlier, trade ministry data showed on Monday, rebounding from a 5.0 percent decline in March.

A Hamburg Sud ship carrying containers arrives as the Hyundai Merchant Marine container terminal is seen in the background at the Busan New Port in Busan, about 420 km (261 miles) southeast of Seoul, August 8, 2013. REUTERS/Lee Jae-Won

Shipments to the United States have been fairly uneven this year, falling in January and March due to variable economic recovery there.

South Korea’s trade surplus with the U.S. shrank to $1.68 billion in April from $2.52 billion a year earlier.

Investors will hone in on the breakdowns by export destination as South Korean exporters face renegotiation of a free trade deal with the United States. U.S. President Donald Trump said last week he was seeking to change the deal or scrap it entirely.

Exports to the European Union soared a stellar 64.9 percent over the same period, the same data showed, far eclipsing a 8.9 percent decline in March and were set to mark the fastest growth since early 2011.

The breakdowns are preliminary and are compiled from data taken from the first 20 days of each month. Full month breakdowns will be released later in May.

Reporting by Christine Kim and Cynthia Kim; Editing by Eric Meijer

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