SEOUL, South Korea — Despite a rapid growth in exports, South Korea's trade deficit with Japan widened to $4.03 billion in the first eight months of the year, up from $3.83 billion in the same period last year, the Trade and Industry Ministry said Saturday.
The report said South Korean exports to Japan during that period reached $4.78 billion, an increase of 52.6% over last year. Imports from Japan increased 26.4%, to $8.81 billion.
South Korea has been trying to increase exports to Japan to reduce the trade deficit with Tokyo, which reached $5.4 billion in 1986. It relies heavily on Japan for machinery and other industrial raw materials.