Anchor: The volume of world trade fell to the lowest level in six years during the first eight months of this year stemming from low growth and a fall in raw material prices. Concerns are growing that the global trade volume could slow down further as U.S. President-elect Donald Trump has pledged a trade war with China.
Our Kim In-kyung has more.
 
Report: The global trade volume between January and August has fallen to the lowest level in six years due to low growth and a decline in raw material prices.
 
According to the World Trade Organization on Monday, the volume of trade among the world's 71 major countries amounted to 19-point-353 trillion dollars during the first eight months of the year, down four-point-six percent on-year.
 
The January to August world trade volume remains in a slump after falling eleven-point-nine percent last year from a record high in 2014.
 
Exports also fell in two-thirds of the 71 countries polled.
 
South Korean exports fell to the eighth largest in the world, down two places from the previous year as the trade volume fell in China, which is South Korea's top export destination.
 
However, the election of Donald Trump as U.S. president has cast a shadow over world trade as he has espoused protectionism and pledged a trade war with China during his campaign.
 
Trump also said he will designate China as a currency manipulator during his first 100 days in office and has vowed to call off the Trans-Pacific Partnership.
 
The WTO has already lowered its trade volume growth estimate for this year from two-point-eight percent to one-point-seven percent. It reduced its projections for next year from a growth of three-point-six percent to between one-point-eight percent and three-point-one percent.
 
In a half-yearly report last Thursday, the trade organization called for lowering trade barriers that restrain global economic growth.
Kim In-kyung, KBS World Radio News.