South Korean registered lower exports due to economic uncertainty in European markets. The trade surplus remained $2.76 billion for the July 2012 report.
The export figure during July was 8.8 per cent lower compared to same period last year. The imports were down by 5.4 per cent during the month.
The demand for automobile parts and display panels was higher during the period but the export figures for telecommunications industry witnessed a fall of nearly 25 per cent.
Japan has also witnessed lower GDP growth during the second quarter ending June 2012. Japanese GDP grew by 0.3 per cent, which is much lower compared to 1.3% growth during first quarter. Japanese government is taking steps to keep the Yen lower compared to USD and Euro. The export dependent Japanese economy is facing tough time due to lower demand in European and US markets.
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