SEOUL – South Korea’s exports reached a record high last year of $605.47 billion, 5.5 percent more than in 2017, the Ministry of Trade, Industry and Energy reported on Tuesday.
According to official data, South Korean imports totaled $534.99 billion in 2018, 11.8 percent more than in 2017, resulting in a trade surplus of $70.48 billion, marking the 10th consecutive year with a surplus.
It is the first time in South Korea’s history that exports have exceeded $600 billion, the Yonhap news agency reported. These volumes make the country the world’s sixth-largest exporter.
The ministry also noted that microprocessor exports reached a record high of $126.7 billion last year.
China remains the main market for South Korean exports, which were worth $162.2 billion last year, 14.2 percent more than in 2017.