South Korea’s share in the global export market of consumer goods decreased substantially over the past two decades.
 
According to the domestic private think tank Hyundai Research Institute, South Korea’s share in the global exports of consumer goods, alternatively known as final goods, decreased from two-point-one percent in 1995 to eight tenths of a percent in 2014.
 
The country also slipped from 14th to 29th in the global rankings of consumer goods exports over the period.
 
However, the country’s share in the global imports of final goods increased from nine tenths of a percent in 1995 to one-point-five percent in 2014, while the country moved up from 19th to 16th in the rankings of consumer goods imports.
 
The country’s imports of consumer goods are growing much faster than its exports of final goods.
 
South Korea’s exports in the sector grew an annual average of one-point-two percent, while its imports expanded an annual average of ten-point-one percent over the period.
 
Accordingly, the country’s trade balance in consumer goods marked a surplus of eleven-point-five billion U.S. dollars in 1995, but shifted to a deficit of 21-point-seven billion dollars in 2014.