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South Korea's exports reach record high in 2018

Agencia EFE
Seoul, South KoreaUpdated: Jan 01, 2019, 02:56 PM IST

File Photo Photograph:(Zee News Network)

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China remains the main market for South Korean exports.

South Korea's exports reached a record high last year of $605.47 billion, 5.5 per cent more than in 2017, the Ministry of Trade, Industry and Energy reported on Tuesday.

According to official data, South Korean imports totalled $534.99 billion in 2018, 11.8 per cent more than in 2017, resulting in a trade surplus of $70.48 billion, marking the 10th consecutive year with a surplus.

It is the first time in South Korea's history that exports have exceeded $600 billion, the Yonhap news agency reported. These volumes make the country the world´s sixth-largest exporter.

The ministry also noted that microprocessor exports reached a record high of $126.7 billion last year.

China remains the main market for South Korean exports, which were worth $162.2 billion last year, 14.2 per cent more than in 2017.