Trade deficit with South Korea one billion euro

03/06/2002 10:00

In 2001 the trade balance of the Netherlands with South Korea showed a deficit of just over one billion euro. This deficit was caused mainly by the boom in the imports of computers from South Korea. The surplus on the total Dutch balance of trade rose by 77 percent in the period 1996 to 2001.

Trade with South Korea

Imports: computers account for nearly half

Dutch imports from South Korea were three percent higher in 2001 than in the previous year, at more than two billion euro. Total Dutch imports rose by a half percent in the same period.

The value of imports from South Korea has nearly tripled in the last five years. Total imports rose by 55 percent in the same period.

Exports: steady growth in the last five years

Dutch exports to South Korea grew by 33 percent in the last five years to a value of 1.1 billion euro in 2001. However, they were seven percent lower than in the previous year.

Total Dutch exports rose by 57 percent in the last five years and by four percent in 2001.

Foot-and-mouth virus

South Korea is having to deal with an epidemic of foot-and-mouth disease at the moment. However, this hardly has any effect on Dutch trade with the country. The Netherlands imported nearly 6 million euro worth of food products from South Korea, of which only 1.6 million euro were pork and pork products. The remainder of food products consisted mainly of fish.

Wiel Packbier