KITA News
  • Korea, 77 Items Ranked Top in Global Export Market, Increased for 3 Consecutive Years
    2019-03-27

    Korea, 77 Items Ranked Top in Global Export Market, Increased for 3 Consecutive Years

     

    - Competitive in chemical, steel and textile Need to find new products focusing on high technology - 




    The number of Korean items that have the largest global export market share has increased for three consecutive years to 77. 



    According to a report titled ‘The Status of Korea’s Export Competitiveness in Terms of No.1 Items in Global Export Market’ issued by the Institute for International Trade (President, Shin Seung-kwan) of the Korea International Trade Association, the number of Korea’s number one items in global export market was 67 in 2014, 68 in 2015, 71 in 2016 and 77 in 2017, ranking 12th in the world. The total export revenue of the number one items was 140.7 billion dollars, accounting for 24.5 percent of the total exports. Among the top products, chemical products (31), steel (13) and textile products (8) took up 67.5 percent. In particular, the number of chemical products rose by 6, the largest increase.



      * The number of No.1 Korean items (number): 69(’12) 68(’13) 67(’14) 68(’15) 71(’16)

        77(’17)


      * The number of No.1 Korean items (ranking) : 13th (’12) 13th (’13) 13th (’14) 14th (’15)

        co-12th (’16) 12th (’17)


     


    Of the 77 No.1 items, 48 were followed closely by China, Japan, the United States, and Germany, and the share gaps of 16 items were less than 5 percent point. In the case of chemical products that take up the largest portion of the top-ranked products, the number of No.2 products of Germany and the United States increased by 2 and 3, respectively, year-on-year, Korean companies need to watch their chas




    Korea is competing with China for the first place of the most of products. It appears that Korea is competing with Japan for the number one place of chemical and steel products. Among the major competitors, China ranked first with 1,720 items in the global export market followed by Germany (693), the United States (550), Italy (220) and Japan (171).

     


    Lee Yoo-jin, a researcher at the Institute for International Trade of the Korea International Trade Association, said, "With the share of semiconductors in total exports rising rapidly, the steady increase of the number of market share No.1 items in the global export market is a green light for the diversification of export items and securing growth engines." The researcher also stressed, "In a situation where export conditions are getting worse, there are still many items competing with China and major developed countries and Korea needs to strive to find new products focusing on advanced technology.


    List
    Prev
    America First Trade Policy To Reach the Pick This Year
    Next
    3.15 Wanhui Strengthens Consumer Rights Protection
KITA
Family Site