Korea's Trade Surpasses $1 Trillion So Far This Year

  • By Ahn Joon-ho

    October 27, 2021 13:00

    Korea's trade has already surpassed US$1 trillion this year, in the shortest period on record.

    The Ministry of Trade, Industry and Energy on Tuesday said exports totaled US$512.2 billion and imports $487.8 billion so far this year. This is the first time that Korea's annual trade volume surpassed W1 trillion in October. The previous record was November in 2018.

    Annual trade has exceeded the $1 trillion mark only seven times -- 2011-2014 and 2017-2019. It fell to $980.1 billion last year due to the coronavirus pandemic but the government expects it to set a new record this year.

    The year's exports already surpassed $500 billion on Oct. 20 and the government projects shipments for the whole year to exceed a record $600 billion.

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