The downward trend in exports continued with outbound shipments in the first 20 days of May falling by over 16 percent from a year earlier.

According to tentative data from the Korea Customs Service on Monday, exports came to 32-point-44 billion U.S. dollars in the cited period, down 16-point-one percent from the same period last year, to continue the trend that began last October.

The average daily exports based on the number of working days also slipped by 13-point-two percent with a half day less at 14 and a half days.

Exports of automobiles jumped 54-point-seven percent on-year during the cited period, but shipments of semiconductors and oil products plummeted 35-point-five percent and 33 percent, respectively, on year.

Exports to the country's largest trade partner, China, dropped 23-point-four percent, while shipments to the U.S. also fell two percent.

Imports, meanwhile, declined 15-point-three percent on-year to 36-point-74 billion dollars during the same period, resulting in a trade deficit of four-point-34 billion dollars.