Korea’s Trade Volume to Hover Below W1r This Year
Korea’s Trade Volume to Hover Below W1r This Year
  • By Yeon Choul-woong (info@koreaittimes.com)
  • 승인 2015.12.09 13:55
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South Korea's annual trading volume is expected to post $1 trillion this year, according to industry watchers on Tuesday.
 
The nation's trade volume retained more than $1 trillion from 2011 but the figure fell short of $886 billion in accumulative trade volume as of November as this year's export and import reduced simultaneously. Accordingly, the size is likely to go below $1 trillion in four years. Hyundai Research Institute said the annual trading volume is likely to stand at $978 billion, a 10.9 percent drop from last year. 

However, next year's export and import will all see rally and post $1.1 trillion, a 4 percent rise from this year. Export will post $555 billion, a rise by 3.9 percent from this year and import will record to $462 billion, a 4.1 percent increase.
 
Hyundai Research Institute said, "The global economic growth will stand at 3.6 percent next year, from 3.1 percent this year. The global trade rise will recover to 4.1 percent next year from 3.2 percent this year," adding, "South Korea's trade volume will also increase with the help of the global economic recovery."
 
It also predicted that if the global economy recovers centering on advanced nations, it will negatively affect Korea's economy. 

The institute said, "Korea's reliance on export in emerging nations is 58.2 percent," adding, "If there is a decoupling effect due to the recovery from advanced nations and the slowdown in emerging nations, it will limit the recovery of Korea's export economy." 
 
 


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