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Biz News Korea(Eng)
S. Korea’s trade volume surpasses $1 trillion
- Collected
- 2017.12.15
- Distributed
- 2017.12.18
- Source
- Go Direct
The Ministry of Trade, Industry and Energy and the Korea Customs Service said Thursday that the nation’s trade volume surpassed the $1 trillion mark as of 2:20 p.m. on Thursday.
Annual trade volume exceeded $1 trillion for four years in a row from 2011 to 2014, but in the following two years it failed to surpass the mark.
The country recorded the fastest growth rate in exports among the top 10 exporting nations from January to September this year. It also ranked sixth in exports, up two spots from last year.
South Korea’s share of the total international trade is also expected to reach around 3 percent this year, as it amounted to 3.3 percent in the January to September period, up from 2.8 percent in 2016.
The trade ministry said the nation’s upbeat shipments have been boosted by the local exporters’ efforts to diversify export items, added value and the growth in the emerging markets.
By Ko Jae-man and Choi Mira
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