Imports of Japanese goods decline by more than 23 percent

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Imports of Japanese goods decline by more than 23 percent

Korea’s imports of Japanese consumer goods sank 23.4 percent in July amid a consumer boycott stemming from a trade dispute, government data showed Monday.
 
Japanese beer and cars bore the brunt of a local campaign against products from the neighboring country, which started a year ago in protest over export controls.
 
Imports of Japanese beer tumbled 84.2 percent on-year to a mere $685,000 last month. Korea was Japan’s largest export market for beer before Korean consumers’ boycott.
 
Korean imports of autos from Japan plunged about 52 percent from a year earlier to $52.35 million in July.
 
Also hit hard were products such as cosmetics, beauty devices, fishing gear, processed goods, toys and video cameras.
In contrast, imports of Japanese motorcycles soared 229 percent on-year to $5.37 million, and those of pet food and golf clubs surged 79 percent and 61 percent, respectively.
 
Since July last year, Korean consumers have avoided Japanese products in protest of Japan’s export restrictions of some key industrial materials shipped to Korea.
 
Tokyo took the move as the top court in Korea ordered Japanese firms to compensate Korean victims of Japan’s wartime forced labor in 2018. 
 
 
Yonhap

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