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| Containers stacked in the courtyard of Sinseondae Pier, Dong-gu, Busan. / News1 DB © News1 Reporter Juyeon Yeo |
Korea ranked seventh in world exports last year, maintaining the same ranking as the previous year. Exports from major countries excluding China declined due to the aftermath of the new coronavirus infection (Corona 19), but Korea showed a relatively good rate of decline and there were no changes in the ranking.
According to the ‘Trade Trends of Top Countries in 2020’ from the World Trade Organization by the World Trade Organization (WTO) on the 28th, Korea ranked seventh with $ 51.49 billion in goods exports last year, and the 9th in the combined ranking of export and import trade. Saved.
Exports decreased 5.5% compared to the previous year, but the classification was the same as in 2019. Last year there was a monthly drop close to 20% at some point, but this is due to the recovery trend, mainly in semiconductors and automobiles, since the second half of the year.
Korea’s export share in the world was 3.1%, higher than in 2019 (+ 2.9%).
Korea’s export decline is fourth best among the top 10 countries. While exports from most countries declined, China (+ 3.7%) and Hong Kong (+ 2.6%), a special autonomous region of China, increased year-on-year, and the fall in the Netherlands it was only -4.8%.
However, with the exception of Hong Kong and the Netherlands, which are intermediary trading partners, Korea’s decline in exports is actually the second best. Hong Kong’s share of re-exports is 89% and the Netherlands also accounts for 44%.
The United States, in second place, fell 12.9% from the previous year, and France, with a decrease of 14.5%, the largest decrease among the main countries. Additionally, Japan (-9.1%), Germany (-7.3%) and Belgium (-6.2%) were also heavily affected by Corona 19.
According to the WTO, exports of goods (including Hong Kong) of the top 10 exporting countries last year totaled $ 9.183.7 billion, 5.1% less than the previous year.
Among them, China held the overwhelming first place with $ 2,591.1 billion. In particular, even after Corona 19, exports increased 3.7% compared to the previous year. Among the top 10 exporting countries, China is the only country with an increase in exports, except Hong Kong (+ 2.6%).
After China, the United States, Germany, the Netherlands and Japan followed the order of the top five countries as before. In 2019, Hong Kong, which was ranked ninth, changed positions to sixth, and France, which was sixth, changed positions to ninth. Britain, which was ranked 10th last year, was not included in the top 10 and Belgium entered the country.
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