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Small Number of Big Companies Accounts for 80% of Total Exports

Written: 2016-12-27 15:06:32Updated: 2016-12-27 16:44:45

Small Number of Big Companies Accounts for 80% of Total Exports

South Korea’s trade volume last year amounted to 937-point-two billion U.S. dollars, down roughly 121 billion from the previous year.
 
According to Statistics Korea on Tuesday, the nation’s exports reached around 525-point-six billion dollars last year, down nearly 46 billion dollars. Imports stood at 411-point-six billion, down roughly 75 billion dollars.
 
Both exports and imports stood at their lowest levels since related statistics began to be compiled in 2012.
 
The statistics agency also found that as of 2015, the number of trading firms in the nation stood at 206-thousand.
 
Companies with one to nine employees made up 62-and-a-half percent of total export firms and nearly 72 percent of import-oriented firms.
 
Meanwhile, large companies with more than 250 employees accounted for only some two percent of export firms and one-point-four percent of import businesses. However, the export and import volumes of big firms accounted for almost 80 percent of the nation's exports and nearly 66 percent of total imports.

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