Ssangyong Motor

South Korea stayed the world's 12th-largest exporting nation in 2005, but its global share edged down

due to competition from China and other emerging economies, a report showed Tuesday.

According to the report by the Korea International Trade Association (KITA), South Korean exports

amounted to US$284.4 billion last year, accounting for 2.74 percent of the global total, down from

2.78 percent the previous year. However, South Korea's 2005 ranking was unchanged from

a year earlier. "The slight fall in South Korea's export share is attributable to increased

competition from many developing countries such as China," said Oh Se-hwan, a KITA researcher.

South Korea's imports reached $261.2 billion last year, the 13th-largest in the world, with its trade

volume coming in 12th at $545.7 billion, said the report based on data compiled by

the World Trade Organization. Germany was the world's largest exporter with $970.7 billion

in 2005, followed by the United States with $904.3 billion, China with $762 billion and

Japan with $595.8 billion.The global export market amounted to $10.75 trillion last year, breaking

the $10-trillion mark for the first time, according to the report.

- Source from YONHAP NEWS(Apr 18, 2006)