South Korea's exports again shrank from a year earlier in July, posting an on-year drop for the seventh consecutive month, the government said Saturday.

The country's overall outbound shipments came to US$46.61 billion last month, down 3.3 percent from the same month last year, according to the Ministry of Trade, Industry and Energy.

However, the country's trade surplus expanded greatly to $7.76 billion as imports plunged 15.3 percent on-year to $38.85 billion.