(MENAFN- Qatar News Agency) r/>Seoul May 06 - South Korea's exports to China grew at a slower pace during the first four months of this year as China's economic growth appeared to be losing momentum which led to less demand for foreign products government data showed Tuesday.
According to the data by the Ministry of Trade Industry and Energy Korea exported US$42.05 billion worth of exports to China from Jan. 1 to April 20.
This is up 1.5 percent from a year earlier. The growth rate is however quite slower than an 8.7 percent on-year rise tallied during the same period a year earlier according to South Korea's (Yonhap) News Agency.
The ratio of China-bound exports to South Korea's total overseas shipment also declined. The ratio stood at 24.9 percent during the same period down from 25.1 percent last year.
Experts said that the recently slowing economic growth in China resulted in less demand and took its toll on South Korean exports.
China's economy grew 7.4 percent on-year during the first quarter of this year slowing from the 7.7 percent growth in the fourth quarter of last year. It is also weaker than its annual growth objective of a 7.5 percent expansion.
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