(MENAFN) According to the Korea International Trade Association, trade volume between South Korea and Japan has dropped for the third consecutive year in 2014, QNA reported.
The trade volume between the nations has declined by 9.2 percent last year compared to a year earlier, amounting to USD85.9 billion, Korea's (KBS WORLD) website reported.
In the first two months of the year, the two countries logged a trade volume of around USD10 billion, which represented a decline of 14 percent compared to the year-ago period.
The decrease is attributed to the dropping competitiveness of South Korean exports to Japan due to a drop in the value of the yen and sluggish domestic demand which weakened Japanese imports.
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