Japan has overtaken China into South Koreas second largest trading deficit count

As South Korea's trade deficit with China narrowed, Japan surpassed China and became the second largest trade deficit country in South Korea for two consecutive months.

According to the Yonhap News Agency, the "July Import and Export Trends" published by the Ministry of Commerce Resources of the South Korean Industry on Sunday (August 13) shows that in June and July, the scale of South Korea's deficit with the Japanese trade deficit was 1.78 billion, respectively.US dollars (about S $ 2.41 billion) and 1.530 billion U.S. dollars are higher than that of trade deficit with China ($ 1.3 billion and $ 1.27 billion).As a result, Japan is second only to the Middle East and has become South Korea's second largest trade deficit country.

According to the information of the South Korean Trade Association, from 1983 to 2010, 2015 to 2021, Japan was the largest trade deficit country in South Korea, but with the blowout of trading deficit with China in January this year, China Excellent Japan has become the largest trade deficit country in South Korea.In June and July, the scale of the trade deficit in China converged, and the increase in the amount of imported chip imports from Japan, etc., the scale of the Japanese trade deficit was super -trade deficit in China.

The Yonhap News Agency reported that if the chip industry's prosperity recovers in the second half of the year, the amount of imported chips and manufacturing equipment will increase from Japan, and the scale of the Japanese trade deficit will be expanded once.