(MENAFN) Vietnam overtook Japan as the fourth-largest overseas market for South Korean exports in the first half this year due to a surge in shipments of intermediate goods to the Southeast Asian country.
South Korean exports to Vietnam stood at USD16.35 billion in the January-July period, surpassing USD15.48 billion in Seoul's shipments to Japan during the same time frame, according to released data.
The swell in South Korean exports to Vietnam was credited to improved shipments of intermediate goods, with exports to Japan tumbling due largely to a weak Japanese currency, data also showed.
"During the same period, shipments to Japan plunged 19.3 percent on-year as the weakness of the Japanese yen and falling international crude prices made exports to the neighboring country less profitable," said a government official.
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