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RoK trade to top one trillion USD in 2017

Overall trade of the Republic of Korea (RoK) is projected to exceed one trillion USD in 2017, a year-on-year rise of 11.5 percent.
Seoul (VNA) – Overall trade of the Republicof Korea (RoK) is projected to exceed one trillion USD in 2017, a year-on-yearrise of 11.5 percent.

According to the Korea International TradeAssociation, exports are forecast to rise 9.4 percent to 542 billion USD, whileimports are expected to jump 14 percent to 463 billion USD this year.

The RoK’s exports in January-May recordedaverage growth of 16.3 percent thanks to higher demand for semiconductor andorganic light emitting diodes, the expansion of exporting products in newgrowth industries and diversification of export markets.

Notably, export growth from January to April wasestimated at 17.1 percent, double the global average level (8.1 percent).
With thisoutcome, the RoK became the sixth largest export economy in the world, accountingfor 3.3 percent of the global export market.-VNA


VNA
#trade #Republic of Korea #RoK #Korea International Trade Association #imports #exports Korea (RoK)
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