Monday, May 7, 2012

S.Korea's trade with China lags far behind Japan

South Korea's trade with China lagged behind Japan in the first quarter of this year due to fierce competition from a rival exporting country in the world's most populous market, a Chinese government report showed Tuesday. 
Trade between South Korea and China reached US$60.3 billion in the January-March period, compared with Tokyo's trade volume of $79.4 billion with Beijing, according to the report by the Chinese Ministry of Commerce.
   Taiwan, the majority of whose exports overlap with the South Korean exports, saw its trade with China reach $35.1 billion in the same period.
   The data, however, did not show the respective figures for imports and exports. 
South Korea, Japan and Taiwan have been closely competing in China, especially in the categories of electronics, technology products and parts.
   For all of 2011, South Korea's exports to China were worth $162.7 billion, while its imports were worth $82.9 billion.
   Japan exported to China $194.6 billion worth products and services, with its imports from China reaching $148.3 billion.
   Taiwan recorded $124.9 billion in exports last year and $35.1 billion in imports.

Source : Yonhap News Agency

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