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South Korea Has $2.47 Billion Trade Deficit In May

South Korea posted a merchandise trade deficit of $2.47 billion in May, Statistics Korea said on Friday.

That beat forecasts for a shortfall of $4.83 billion following the $1.71 billion deficit in April.

Exports rose 5.4 percent on year, surpassing expectations for an increase of 3.8 percent following the 21.3 percent surge in the previous month.

Imports jumped an annual 19.4 percent versus expectations for an increase of 22.6 percent and down from the 32.0 percent spike a month earlier.

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