Arab Today, arab today south korea\s exports hit record high in 2013 amid global recovery
Last Updated : GMT 06:22:54
Arab Today, arab today
Arab Today, arab today

South Korea\'s exports hit record high in 2013 amid global recovery

Arab Today, arab today

Arab Today, arab today South Korea\'s exports hit record high in 2013 amid global recovery

Seoul - XINHUA

South Korea's exports hit a new high last year on the back of global recovery that led to strong demand from major trading partners such as China and the United States, a government report showed Wednesday. Exports, which account for around half of the economy, increased 2.2 percent from a year earlier to 559.7 billion U.S. dollars in 2013 after declining 1.3 percent in the prior year, according to the Ministry of Trade, Industry and Energy (MOTIE). Imports inched down 0.8 percent to 515.5 billion dollars last year, sending the trade surplus to 44.2 billion dollars, higher than a 28.3 billion dollar surplus tallied in 2012. The export and surplus figures reached new highs last year, with the trading volume exceeding the 1-trillion-dollar level for three straight years. The ministry said in a press release that exports to major trading partners, including China and the United States, expanded amid signs of global recovery, adding that demand for major export items such as chips and smartphones was solid from overseas markets. Exports to China and the United States rose 8.6 percent and 6 percent, respectively, last year, offsetting a reduction in shipments to Europe and Japan. A weak Japanese yen weakened the price competitiveness of South Korean exporters, who are competing fiercely in the global market. Shipments of telecommunication devices such as smartphones surged 21.2 percent in 2013, with those of home appliances and semiconductors jumping 16.8 percent and 13.3 percent, respectively. Exports of petrochemicals and automobiles increased 5.5 percent and 3.1 percent each, and ship exports were improved amid the recovery in the global shipbuilding industry. Semiconductor became South Korea's No.1 export item due to stronger demand caused by brisk sales of mobile devices, including Samsung's Galaxy smartphones. Steel exports remained sour on the global oversupply, and display panel shipments showed lackluster picture amid lower product prices. Imports of capital goods increased last year as companies increased their capital spending to expand facilities in the machinery sector, and consumer goods imports rose due to demand for luxury foreign cars, clothes and beef. The ministry forecast that the country's exports would grow at a faster pace in 2014 compared with 2013, saying that major economies such as the United States and Europe would recover hand in hand with the continuing growth of the Chinese economy. 2014 exports were forecast to rise to 595.5 billion dollars, but trade surplus is expected to reduce to 33.5 billion dollars this year because of the expectations for faster import gain. Negative factors remained over the trade outlook. The U.S. Federal Reserve decided to taper its monthly bond purchases by 10 billion dollars to 75 billion dollars starting from this month amid the expected sluggishness in emerging economies. The weak yen trend was expected to continue, leading to lower shipments to Japan. Additionally, exports for December jumped 7.1 percent from a year earlier to 48.1 billion dollars due to demand from China and the United States. Exports to China and the United States jumped 8.4 percent and 13.2 percent respectively last month, relieving a reduction in Japan and Southeast Asian nations. The country recorded a trade surplus of 3.7 billion dollars in December, keeping its surplus trend for 23 straight months.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today south korea\s exports hit record high in 2013 amid global recovery Arab Today, arab today south korea\s exports hit record high in 2013 amid global recovery

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today south korea\s exports hit record high in 2013 amid global recovery Arab Today, arab today south korea\s exports hit record high in 2013 amid global recovery

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today What's the reason and what you can do

GMT 05:44 2017 Sunday ,22 October

What's the reason and what you can do
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Syrian children die of hunger

GMT 19:25 2017 Sunday ,22 October

Syrian children die of hunger
Arab Today, arab today Maltese demand justice for murdered

GMT 06:08 2017 Monday ,23 October

Maltese demand justice for murdered
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Actress Mona Zaki praises husband’s role

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 06:07 2017 Sunday ,22 October

15,000 Under Fives Die

GMT 13:44 2017 Friday ,20 October

Barcelona through George Orwell’s eyes

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday