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Japan’s food exports to S. Korea plunge 40 pct in Aug.

  • September 18, 2019
  • , Jiji Press , 10:44 p.m.
  • English Press

Tokyo, Sept. 18 (Jiji Press)–South Korea-bound food exports from Japan in August plummeted 40.6 pct from a year before to 2.4 billion yen, according to preliminary customs-cleared trade data released by Japan’s Ministry of Finance on Wednesday.

 

The sharp fall possibly reflected moves in South Korea to boycott Japanese goods amid escalating tensions between the two countries, pundits said.

 

Beer has accounted for some 15 pct of the total food exports to South Korea from Japan.

 

“We can’t give specific figures, but the impact of the boycott has been emerging,” an official of a major Japanese brewer said.

 

The proportion of food in the overall exports to South Korea from Japan has been less than one pct.

 

“The boycott’s impact on the Japanese economy is not big,” said Shinichiro Kobayashi, chief researcher at Mitsubishi UFJ Research and Consulting Co.

 

“But it would be inevitable for the food export downtrend to continue if there is no sign of improvement in bilateral relations,” he added.

 

Japan’s overall exports to South Korea in August dropped 9.4 pct to 422.6 billion yen, due partly to a fall in shipments of chipmaking equipment amid a slowdown in the global economy.

 

Exports sagged 4.9 pct for chemical products, including three semiconductor-related materials subject to Japan’s stricter export controls, introduced in July.

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