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Japan's Exports to S. Korea Hit 11-Year Low in May

Written: 2020-07-08 09:47:05Updated: 2020-07-08 10:00:54

Japan's Exports to S. Korea Hit 11-Year Low in May

Photo : Getty Images Bank

Japan's exports to South Korea plunged to the lowest level in eleven years in May due to its export restrictions and the COVID-19 pandemic.

According to the Korea International Trade Association and Japan Tariff Association on Wednesday, Japan's shipments to its neighbor came to 329-point-three billion yen or three-point-six trillion won in May, down 18 percent from a year earlier. 

The May figure marks the lowest since February 2009. 

Japan's exports to South Korea rose to 415 billion yen in February from 371-point-six billion yen in January, before remaining over 400 billion yen in March and April.

Japan's food exports fell 41-point-six percent on-year in May, with shipments of raw materials and minerals plunging about 49 percent and 70 percent, respectively.

Japan's imports from South Korea also slipped 27-point-three percent on-year to about 200 billion yen in May, the lowest since April of 2010.

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