S. Korea's exports hit all-time high in 2021: Trade Ministry

한국 수출, 사상 최고기록 경신…연간 6천400억달러 넘길 듯

South Korea's exports this year have risen to an all-time high.
Despite the challenges of the pandemic, shipments are expected to surpass 640 billion dollars once the year is done, which would be a significant increase from the previous record set three years ago.
Choi Min-jung reports.
With more than two weeks left in the year, South Korea's exports for 2021 have already topped the previous record.
According to the Ministry of Trade, Industry and Energy,... this year's annual exports as of noon Monday hit an all-time high, breaking the record of 6-hundred-4-point-9 billion U.S. dollars set in 2018.
The total exports are forecast to exceed 6-hundred-40 billion dollars by the end of the year.

The ministry cited export growth in major industries involving semiconductors, shipbuilding, and automobiles as the driving force behind the record figures.
This comes as these industries showed solid growth with minimal damage from COVID-19.

From January to September, South Korea maintained the number one position in the memory chip industry,... with 58-point-9-percent market share.
According to data from the International Trade Center,... South Korea also remained the fifth largest exporter for automobiles,... with 32-point 7 billion U.S. dollars of shipments.
And from January to November, South Korea had the most orders for both liquefied natural gas and eco-friendly ships worldwide.
Export growth in relatively new items,... such as cosmetics and agricultural and fishery products,... also contributed to the increase.

South Korea remained in seventh place in the global rankings for exports this year.
The Trade Ministry forecasts that exports will continue to increase next year with increasing global trade and demand.
However,... it notes that the spread of COVID-19 variants as well as instable supply chains may pose risks to that growth.
Choi Min-jung, Arirang News.

#SouthKorea #exports #economy

2021-12-13, 17:00 (KST)