$1 tril. in annual exports
Korea, Asia's export powerhouse, is poised to exceed $1 trillion in annual exports this year. The Ministry of Trade, Industry and Resources on Sunday announced that exports in October reached $115.3 billion, a 93.7 percent increase year-on-year. That puts the country's total exports in the first 10 months of the year at $930 billion. This means Korea is on track to reach $1 trillion in yearly…
Korea, known for its export powerhouse status, is expected to surpass $1 trillion in annual exports this year. The Ministry of Trade, Industry and Resources revealed that exports in October soared by 93.7 percent, reaching $115.3 billion. The country's total exports for the first ten months stood at $930 billion, indicating that Korea is likely to achieve the $1 trillion mark in yearly exports as early as this month, joining the ranks of the United States, China, and Germany as the fourth country to accomplish this feat.
President Lee Jae Myung expressed his gratitude for the efforts of businesspeople and workers on social media, highlighting their relentless dedication. This achievement underscores the current prominence of Korea's export-driven economy, which has contributed to the third-quarter GDP growth reaching 1 percent, up from 0.6 percent in the previous quarter and surpassing expectations.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- $1 tril. in annual exports koreatimes.co.kr
