Korea Ranks 12th in Top Export Products
21 March, 2019
Korea ranked 12th in the world in terms of market-leading export products with 77 in 2017, the Korea International Trade Association said on Wednesday.
Among them, 31 were chemicals, 13 steel and 8 textile products.
The combined value of the products was estimated at US$140.7 billion, accounting for 25 percent of the country's total exports.
The number rose from 2014, when the country had 64 products leading the global market.
China led the world with 1,720 top-ranked products, followed by Germany (693), the U.S. (550), Italy (220) and Japan (171.)
Among the 77 market-leading Korean products, 48 were closely followed by rival products from China (15), Japan (13), the U.S. (12) and Germany (8).
Lee Yu-jin at KITA said, "At a time when deteriorating export conditions are becoming a concern, many Korean products are still traditional export items competing fiercely with Chinese and other foreign rivals. We need to work hard to look for new items in the high-tech business and others."