Seoul, May 1
South Korea's exports gained 3.7 percent from a year earlier in April, marking a third consecutive month of increase, while outbound shipments to the United States dropped sharply on the Donald Trump administration's hefty tariffs, data showed on Thursday.
Outbound shipments came to US$58.2 billion last month, the highest-ever for an April, according to data compiled by the Ministry of Trade, Industry and Energy.
Imports dropped 2.7 percent on-year to $53.3 billion, resulting in a trade surplus of $4.88 billion, reports news agency.
Exports to the U.S. decreased 6.8 percent on-year to $10.6 billion, leading to a $900 million drop in Seoul's trade surplus with the U.S. from a year earlier.
The sharp decline in shipments to the U.S. is attributable to a fall in shipments of automobiles, semiconductors and machinery, the ministry said.
Auto exports to the U.S. shrank 16.6 percent to $2.51 billion and chip exports slumped 31 percent to $400 million. Shipments of machinery products decreased 22.6 percent to $970 million.
On the other hand, shipments of petroleum products, rechargeable batteries and wireless communications equipment to the U.S. increased.
"High U.S. tariffs appear to have affected (South Korea's) exports to the U.S., though the degree of impact differs by sector," said Park Jung-sung, Deputy Minister for Trade and Investment at the ministry.
The automotive sector suffered impact partially from tariffs but also from wavering demand for electric vehicles (EVs), he explained.