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Last year's trade balance between Korea and Chile has improved by more than W1 trillion (US$1=W977). That's according to Yonhap News Agency, which cited Chile's national statistical office.
Korea's exports to and imports from the South American nation in 2007 amounted to US$3 billion and $3.78 billion, respectively.
The resulting trade deficit comes to nearly $800 million, which is $1.6 billion less of a deficit with the same country from last year.
Such improvement in the trade balance is attributed to Korea's increased export of gasoline, automobiles and industrial goods to Chile. A free trade agreement between the two countries came into effect four years ago.
Arirang News
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