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Friday 14 October 2016

Korea's exports to U.S., Vietnam on upward trend: ARIRANG NEWS

Published on Oct 13, 2016
우리나라 수출, 미국•베트남 '웃고' 중국 '울상'

Korea's exports to Vietnam and the United States have been on an upward trend since 2010,... but shipments to China,... Korea's largest trading partner,... are going the other way.

According to the Korea International Trade Association,... Korea's export value to the U.S. stood 69-point-eight billion dollars in 2015.

That's up from 49-point-eight billion in 2010.

With that,... the U.S. makes up about 14 percent of Korea's total exports,... up from about ten percent.
During the same period,... exports to Vietnam surged almost three-fold to 27-point-eight billion dollars -- accounting for over six percent of Korea's overall exports.

KITA attributed the rise to an economic recovery in the U.S.,... as well as an improvement in spending and demand for imports,... while Vietnam has risen as a production base for Korean companies.

However, China -- which accounts for roughly a quarter of Korea's total exports -- has been falling since 2013,... due to sluggish growth as well as a shift in economic policy to boost domestic consumption.
Korea's exports to China came to 137 billion dollars last year,... down from over 145 billion in 2014.

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