Trade Between Korea and Japan Waning

  • Arirang News

    August 19, 2014 11:01

    Trade volume between Korea and Japan has dropped to its lowest level since 2009, totaling US$43 billion in the first half.

    Korea's exports to Japan, ranging from smartphones and semi-conductors to steel, dropped more than 5 percent from the same period last year. Imports from Japan were also reduced by more than 12 percent.

    The Korea International Trade Association attributes the overall drop in trade between the two countries to Japan's attempt to reduce its amount of imports in order to increase domestic demand.

    Although Korea's trade deficit with Japan is shrinking, researchers think the effect may not be entirely positive since the change is due to a decrease in Korea's imports rather than an increase in exports.

    Trade volume between the two could drop even more as Korea begins to trade with other emerging countries.

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