German trade with South Korea declines
Wiesbaden, Germany - German trade with South Korea declined markedly last year, statisticians said Friday, just three days before South Korea opens a major trade promotion at the annual Hanover Fair.
The data showed German exports to South Korea off by 16 per cent in annual terms in the fourth quarter of 2008, while South Korea's exports in the other direction declined 6 per cent.
The Federal Statistics Office in Wiesbaden said the decline was sharper than in Germany's world trade generally. In the quarter, German exports to the rest of the world were off 6 per cent and imports were steady.
The full-year data showed Germany imported South Korean goods worth 9 billion euros last year, while German exports to South Korea were valued at 8.8 billion euros.
At the five-day trade fair opening for business Monday in Hanover, South Korean leaders are to meet with German officials and Korean culture shows will be staged to underscore a push to sell advanced Korean machinery and factory automation gear in Europe.(dpa)