S. Korea’s Exports Surge 13% Over Last Decade

The volume of South Korean exports increased by 13% over the past decade. A report by the Federation of Korean Industries said that the value of exports grew from $559.6 billion in 2013 to $632.2 billion in 2023. The data also indicated that South Korea's share of the global export market decreased by 0.3 percentage points, from 3% to 2.7%. During this period, South Korea experienced fluctuations in its exports but maintained its role as one of the world's largest exporting countries. Exports accounted for about 38% of South Korea's Gross Domestic Product (GDP) during this time, highlighting the importance of the external sector to the country's economy. Source: Qatar News Agency