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Two-way trade between South Korea and Japan has decreased for three years in a row, amid frosty relations and the weakening of the Japanese yen against the Korean won, data showed Wednesday.
According to trade figures posted by the Korea Trade-Investment Promotion Agency, exports to the island nation fell 2.2 percent on-year in 2012, plunged 10.7 percent in the following year and were down 4.6 percent in the first nine months of this year.
Imports from Japan were also down in the same period, with inbound goods traffic dropping 5.8 percent in 2012, 6.7 percent in 2013 and 11.1 percent in January-September of 2014.
The drops mark the first time ever that bilateral trade has decreased for three consecutive years.
Related to the decline in exports, market watchers such as the Korea Center for International Finance said the weak yen, which hurts the price competitiveness of South Korean-made goods in the global market, is the main culprit. (Yonhap)
According to trade figures posted by the Korea Trade-Investment Promotion Agency, exports to the island nation fell 2.2 percent on-year in 2012, plunged 10.7 percent in the following year and were down 4.6 percent in the first nine months of this year.
Imports from Japan were also down in the same period, with inbound goods traffic dropping 5.8 percent in 2012, 6.7 percent in 2013 and 11.1 percent in January-September of 2014.
The drops mark the first time ever that bilateral trade has decreased for three consecutive years.
Related to the decline in exports, market watchers such as the Korea Center for International Finance said the weak yen, which hurts the price competitiveness of South Korean-made goods in the global market, is the main culprit. (Yonhap)
