Korea's trade deficit with Japan widens

Korea’s trade deficit with Japan widens

Even though Korea's exports in general show a constant pace of growth, the country's trade deficit with Japan is widening this year. Statistics reveal that Korea's trade deficit with Japan reached almost $20 billion in the first ten months of the year. According to figures jointly compiled by the Korea International Trade Association and the Commerce, Industry and Energy Ministry, Korean exports to Japan amounted to $17 billion in the mentioned period while imports from Japan reached almost $37 billion. Imports of semiconductors, steel sheets and manufacturing equipment from Japan showed an improvement, increasing by 31% from a year earlier. In 2002, Korea's trade deficit with Japan was recorded as around $15 billion and $11 billion in 2000.