South Korean media: South Korea's export growth rate has been lower than that of China in the past 10 years
2024-08-20
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Reference News reported on August 19According to a report by Yonhap News Agency on August 19, a report released by the Korea Employers Association on the 19th showed that South Korea's export growth in the past 10 years has been lower than that of mainland China and Taiwan, and the exports of electronic products and automobiles, which are the main export items, have also been overtaken by the two places.
According to reports, the Korea Employers Association analyzed statistical data from the International Monetary Fund (IMF) and the Korea Trade Association, and released a report titled "Export Analysis of Four East Asian Regions (South Korea, Japan, Mainland China and Taiwan)."
The report pointed out that South Korea's exports increased from US$559.6 billion in 2013 to US$632.2 billion in 2023, an increase of 13%. During the same period, China's and Taiwan's exports increased by 54.8% and 36% respectively, and Japan's increased by 0.3%. South Korea's export growth was only about one-fourth of China's and one-third of Taiwan's.
According to the report, South Korea's export value of important export items, electronic products and automobiles, was also surpassed by Taiwan and mainland China respectively.
Exported cars photographed at Yantai Port in Shandong Province on June 19. Photo by Tang Ke, Xinhua News Agency
