November 19, 2019 08:32
Korea's trade deficit with Japan is forecast to fall to a 16-year low this year amid Koreans' boycott of Japanese goods following Tokyo's export curbs on key high-tech materials to Seoul.
The Ministry of Trade, Industry and Energy on Monday said that Korea's trade deficit with Japan in the first 10 months of this year was US$16.4 billion, down 20.6 percent on-year.
If it continues to decline until the end of the year, the annual deficit will fall below $20 billion to the lowest level since 2003, when it stood at $36.1 billion.
The fall is largely attributed to a drop in shipments of semiconductor-related parts and equipment and consumer goods including cars and beer from Japan.
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