South Korea’s exports rose 16.5 percent on-year in the first 10 days of May, data showed Monday.

Outbound shipments reached US$16.81 billion in the April 1-10 period, compared with $14.43 billion tallied a year earlier, according to the data from the Korea Customs Service.

Imports fell 6.7 percent on-year to $17.4 billion during the period, resulting in a trade deficit of $600 million.

In April, exports expanded 13.8 percent on-year to $56.2 billion, the seventh consecutive monthly gain, on the back of strong demand for semiconductors and vehicles.

Source: Yonhap News Agency