Despite difficult external situations, the trade volume between South Korea
and the European Union (EU) gained 3.9 percent onyear over the six months
after their bilateral free trade agreement took effect in July.

However, Seoul¡¯s trade surplus with the EU shrank sharply largely due to weak demand
for Korean goods such as ships and IT goods in the wake of the European debt crisis.

Exports of ships and IT products to the EU dropped by $5.45 billion in the July to December period,
the ministry said. Imports of airplanes, naphtha and scrap irons from Europe grew $1.5 billion.

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