South Korea's exports fell for the ninth consecutive month in June due mainly to weak demand for semiconductors, but the country reported a trade surplus for the first time in more than a year, the industry ministry said Saturday.

Outbound shipments fell 6 percent on-year to US$54.24 billion last month, according to the data compiled by the Ministry of Trade, Industry and Energy.

The decline came as exports of semiconductors, the country's key export item, sank 28 percent on falling demand and a drop in chip prices.

Imports fell 11.7 percent on-year to $53.11 billion in June, as energy imports went down 27.3 percent on-year, the ministry said. South Korea depends on imports for most of its energy needs.

Accordingly, the country logged a trade surplus of $1.13 billion last month, ending a 15-month shortfall.

Imports exceeded exports in South Korea from March 2022 through May 2023 on high energy prices, and it is the longest trade deficit the country has suffered since 1997.

Source: Yonhap News Agency