Semiconductor trade deficit growing.

(From The Korea Herald)

By Rafael Nam Korea's trade surplus in electronic goods has shrunk by as much as 47 percent in the first three quarters of the year compared to the same period in 2002, said a report yesterday by the Korea Electronics Technology Institute.

The cumulative trade surplus in the year to September reached $860 million compared to $1.62 billion in the first three quarters of 2002.

The reason behind the declining surplus can be attributed to rising imports, with $19.2 billion worth of overseas goods entering the domestic market this year, compared to $16.13 billion last year.

Exports increased as well, but at a slower pace, with $19.98 billion worth of goods going to other world markets, compared to $17.75 billion in the January-September period last year.

Japan remained the top importer of electronic goods with a market share among incoming goods of 27.2 percent, or $5.15 billion. It was followed by the United States, with a 21.6-percent share and Taiwan with an 11.4-percent share.

In terms of exports, the United States remained Korea's top overseas destination, although its market share among exports declined to 14.5 percent, or $2.63 billion, from the 18.6 percent share last year. Japan was the second top destination with a 14.2-percent market share. China jumped from the fifth position last year to third this year with a 13.5-percent share, in line with its growing importance as an export destination for Korean goods.