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Exports Hit Record High in 2021, S. Korea Becomes 8th Largest Trading Nation

Written: 2022-01-01 13:05:31Updated: 2022-01-01 13:08:05

Exports Hit Record High in 2021, S. Korea Becomes 8th Largest Trading Nation

Photo : YONHAP News

South Korea's exports jumped more than 25 percent on-year in 2021 to reach an all-time high.

According to trade ministry data on Saturday, outbound shipments recorded 644-point-five billion dollars last year, up 25-point-eight percent from the previous year.

It marks the highest annual figure, beating the previous record of 604-point-nine billion set in 2018.

Exports have shifted to positive on-year growth after two years of contraction.

Imports, meanwhile, rose 31-point-five percent to 615 billion dollars last year.

The resulting annual trade volume also hit a record of one-point-26 trillion dollars with South Korea ranking as the eighth-largest trading country in the world, up one notch from last year.

In 2021, exports of the country's top 15 staple items all posted double digit growth, a first since 2000.

In particular, shipments of semiconductors and petrochemicals spiked to record levels.

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