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KITA: S. Korea Expands US Market Share amid Sino-US Trade Row

Written: 2020-10-21 13:37:23Updated: 2020-10-21 15:42:47

KITA: S. Korea Expands US Market Share amid Sino-US Trade Row

Photo : YONHAP News

A recent study has found that South Korea expanded its U.S. market share for goods in the first half of this year from two years earlier, amid the prolonged trade row between the U.S. and China.

According to the Korea International Trade Association(KITA) on Wednesday, South Korea took up three-point-94 percent of the U.S. market for imported goods affected by the Sino-U.S. trade dispute in the January to June period. It marks an increase by point-87 percentage points over the cited period. 

In contrast, China's exports of comparative goods to the U.S. dipped four-point-04 percentage points to 13-point-21 percent.

Other Asian nations, such as Vietnam and Taiwan expanded their shares by one-point-three and one-point-04 percentage points, respectively.

In particular, South Korea's exports to the U.S. of intermediary goods affected by the U.S. trade sanctions on China expanded to take up five-point-29 percent of the market, up one-point-16 percentage points from two years ago.

That is the biggest market share expansion among rival countries, including Germany, Japan, Taiwan and Vietnam.

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