Korea's Trade Deficit with Chile on a Sharp Rise Jan 12, 2004

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Korea's trade deficit with Chile is on a sharp rise, recording U.S. $490 million last year, up $200 million from the previous year, despite declining appliance and telecommunication exports.

The Korea International Trade Association announced that Korea's exports to Chile rose 16.7 percent to $470 million in 2003 from November 2002, while imports from the South American country soared 40 percent to $960 million during the same period.

By item, exports of automobiles and petrochemical goods increased by approximately 28 percent and 145 percent respectively, while those of wireless telecommunication goods and refrigerators shrank.

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