South Korea's exports reached a new record last year, with 605.47 billion dollars, 5.5% more than in 2017, the Ministry of Commerce, Industry and Energy reported today.
According to official data, South Korean imports reached 534,990 million dollars in 2018, 11.8% more than in 2017, with a trade balance of 70,480 million dollars, the tenth consecutive year with a positive trade balance.
It is the first time in the history of South Korea that over 600,000 million dollars are exceeded in exports, said the local agency Yonhap. With these volumes, the country becomes the sixth exporter worldwide.
The ministry noted that microprocessor exports reached a record 126,700 million dollars last year.
China remains the main market for South Korean exports, and last year reached 162.2 billion dollars, 14.2% more than in 2017.