South Korea had a merchandise trade surplus of $8.49 billion in April, the Ministry of Trade, Industry and Energy said on Friday.

That exceeded forecasts for a surplus of $7.15 billion, and it was up from $8.38 billion in March.

Exports were down 8.1 percent on year, missing forecasts for a contraction of 6.6 percent following the 4.3 percent decline in the previous month.

Imports tumbled an annual 17.8 percent versus expectations for a decline of 14.3 percent after dropping 15.3 percent a month earlier.

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