A new survey shows that South Korea’s exports are recovering at the fourth fastest rate among major export-driven economies amid the COVID-19 pandemic.
The Korea International Trade Association(KITA) said on Monday based on World Trade Organization data that the country exported 370-point-seven billion U.S. dollars worth goods and services in the January to September period this year, down eight-point-seven percent from the same period last year. That makes South Korea the world’s seventh largest exporter so far this year.
Hong Kong was the only country among the top 10 exporters posting an on-year growth during the nine-month period, while China trailed at a contraction of zero-point-eight percent. The Netherlands was slightly ahead of South Korea with negative eight percent growth.
Italy came in fifth at minus 11-point-five percent, followed by Germany at minus 11-point-six percent, Japan at minus 13-point-three percent, Mexico at minus 14-point-four percent and the U.S. at minus 15-point-four percent.
South Korea achieved seven-point-three percent export growth in September, rebounding from a decrease in the previous six months since March. It declined three-point-eight percent in October before bouncing back to four-percent growth in November.