south koreajapan trade sinks 14 in q1
Last Updated : GMT 06:10:45
Arab Today, arab today
Arab Today, arab today

South Korea-Japan trade sinks 14% in Q1

Arab Today, arab today

Arab Today, arab today South Korea-Japan trade sinks 14% in Q1

Korea International Trade Association (KITA)
Seoul - QNA

Trade between South Korea and Japan fell nearly 14 percent on-year in the first quarter of the year as the relatively strong won reduced demand for South Korean goods in the neighboring country, a report showed on Tuesday.

The bilateral trade between the neighboring countries came to US$18.45 billion in the January-March period, down 13.9 percent from a year earlier, according to the report by the Korea International Trade Association (KITA).

In the three-month period, South Korea's exports to Japan plunged 22 percent on-year to $6.39 billion, with its imports from the neighboring country also shrinking 8.8 percent to $12.05 billion, the report said.

The decline in their bilateral trade was largely attributed to the weakening of the Japanese yen against the Korean won, which has hurt the price competitiveness of South Korean goods in Japan, according to South Korea's (Yonhap) News Agency.

"The most significant variable that affects the bilateral trade is the currency exchange rate," said Oh Se-hwan, a senior researcher at KITA. "The Japanese yen is trending lower against the Korean won this year, so the drop in trade volume has been larger." By trade item, exports of petroleum products saw the largest drop of 54.3 percent over the cited period, followed by steel plates and molds at 33.1 percent and 19.3 percent, respectively, according to the report.

Among Japanese goods, imports of pig iron and scrap iron slumped 46.7 percent, while petrochemical intermediate materials and steel plates trailed with a 26.9 percent and 24 percent drop, respectively.

South Korea's trade with Japan has been on a decline for the past three years since it peaked at $108 billion in 2011. Last year, bilateral trade between the two countries came to $85.95 billion, down 9.2 percent from the year before, according to KITA.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

south koreajapan trade sinks 14 in q1 south koreajapan trade sinks 14 in q1

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

south koreajapan trade sinks 14 in q1 south koreajapan trade sinks 14 in q1

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Japanese regulators raid Airbnb

GMT 00:44 2017 Monday ,20 November

Japanese regulators raid Airbnb
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Saudi, Bahrain target Iran

GMT 00:48 2017 Monday ,20 November

Saudi, Bahrain target Iran
Arab Today, arab today Europe turns on Facebook, Google

GMT 02:26 2017 Monday ,20 November

Europe turns on Facebook, Google
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Driverless, electric future just round

GMT 02:45 2017 Monday ,20 November

Driverless, electric future just round
Arab Today, arab today Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Hanan Metawe denies apology for “Major Treason”

GMT 12:22 2017 Thursday ,16 November

Hanan Metawe denies apology for “Major Treason”
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 08:06 2017 Wednesday ,15 November

Ayten Amer happy for “The Flood” success

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 02:28 2017 Saturday ,18 November

Anti-drug operation nets 4 tonnes

GMT 01:34 2017 Friday ,17 November

Banyan Tree Phuket Takes Festive Season

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday