South Korea on Monday posted its sharpest drop in monthly exports since January, dousing optimism about Asia’s fourth-biggest economy recovering from the economic downturn soon.
Exports plunged 28.3 per cent in May compared with the same month a year earlier, undershooting analysts’ projections. In April, exports fell only 19 per cent. Since a 33 per cent fall in January, export declines had stabilised at about 20 per cent each month.