Trade between S. Korea, Australia surge in 2004
Trade between South
Korea and
Australia rose 24% year-on-year to $10.4 billion in 2004 due to an increase in South Korean imports of raw materials and agricultural products, the
Korea Trade-Investment Promotion Agency (KOTRA) said.
South
Korea's exports to
Australia rose 16% year-on-year to $3.6 billion last year while imports increased 28% to $6.8 billion.
Accordingly, South
Korea's trade deficit with
Australia totaled $3.2 billion in 2004, up 44% from a year earlier.