South Korea Trade Deficit $2.10 Billion In May

RTTNews | vor 820 Tagen
South Korea Trade Deficit $2.10 Billion In May

(RTTNews) - South Korea posted a merchandise trade deficit of $2.10 billion in May, the Customs Office said on Thursday.

That exceeded expectations for a shortfall of $2.89 billion following the $2.70 billion deficit in April.

Exports dropped 15.2 percent on year, missing forecasts for a decline of 13.5 percent following the 14.3 percent fall in the previous month.

Imports were down 14.0 percent on year versus expectations for a drop of 10.6 percent after sinking 13.3 percent a month earlier.

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Bank Of Korea Stands Pat On Rates, Lifts 2025 Growth Outlook

Bank Of Korea Stands Pat On Rates, Lifts 2025 Growth Outlook

The Bank of Korea left its interest rate unchanged on Thursday as economic growth improved moderately despite high uncertainty surrounding the outlook. The Monetary Policy Board decided to hold the Base Rate at 2.50 percent. The central bank had previously lowered the benchmark rate by a quarter-point each in May and February.
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