South Korea’s exports rose 25.8% in 2021

The Ministry of Industry in South Korea said that exports rose by 25.8 percent in 2021 compared to the previous year .
The ministry stated that exports recorded their highest level ever, against the backdrop of strong demand for chips and petroleum products amid the global economic recovery .
The volume of these exports amounted to 644.54 billion dollars last year, compared to 512.5 billion dollars in 2020.
This is the highest index recorded since 1956, and exceeded the previous record recorded in 2018 of 604.9 billion dollars .
The total trade volume hit an annual record high of 1.26 trillion dollars last year, making South Korea the eighth largest trading country in the world .
The ministry added that the country’s most important exports are semiconductors and petrochemicals .
The ministry added that South Korea’s exports to China grew last year to China, the United States, the European Union, ASEAN countries and India .

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