Seoul: South Korea's exports plunged 23.8 percent from a year earlier in the first 10 days of this month, data showed Monday. Outbound shipments reached US$12.83 billion in the May 1-10 period, compared with $16.84 billion tallied a year earlier, according to the data from the Korea Customs Service.

According to Yonhap News Agency, imports went down 15.9 percent on-year to $14.57 billion during the period, resulting in a trade deficit of $1.7 billion. In contrast, April's export performance showed a gain of 3.7 percent from a year earlier, reaching $58.2 billion. This marked the third consecutive month of increase in exports, highlighting a significant shift in trade dynamics at the start of May.