Korea to Reclaim Position as World's 6th Largest Exporter

  • By Kim Seong-min

    November 13, 2017 12:59

    Korea's exports surged during the first half of this year and its global market share rose to a record high. At this pace, the country is expected to regain its position as the world's sixth largest exporter, which it ceded two years ago.

    Last year Korea ranked eighth after Hong Kong and France.

    The Korea International Trade Association on Sunday said Korea accounted for a 3.3-percent share of the global market in the January-June period, surpassing the previous record of 3.2 percent set in 2015.

    Cumulative exports from January through August stood at US$375.1 billion, up 16.4 percent from the same period last year and the fastest growth among the world's top 10 exporters.

    Exports of its key items all fared well, with semiconductors soaring 54.2 percent and ships 37.5 percent. Petrochemical and petroleum shipments also rose.

    "Korea's export dependence on the U.S. and China eased, and it was able to diversify its markets with more shipments to ASEAN, the EU and India rose," KITA said.

    The sales of Korea's 916 listed manufacturers emerged from a downward trend in the first half to grow 8.8 percent for the first time in four years.

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