S. Korea's trade reliance fell to three-year low in 2019a
- 4 years ago
한국경제 무역의존도 3년 만에 최저…수출 부진의 그늘
Data show the South Korean economy's reliance on trade, historically very high and leaving the country vulnerable to external shock, fell last year to a three-year low.
That's according to Statistics Korea, which measures trade reliance by dividing the country's total trade by its GDP.
The figure for last year was 63-point-5-1 percent, which is a decline from the year before of 2-point-5-7 percentage points.
The country's dependence on exports fell to just under 33 percent, the lowest since 2007.
Exports had been projected to increase this year, but those hopes were dashed by the pandemic.
Data show the South Korean economy's reliance on trade, historically very high and leaving the country vulnerable to external shock, fell last year to a three-year low.
That's according to Statistics Korea, which measures trade reliance by dividing the country's total trade by its GDP.
The figure for last year was 63-point-5-1 percent, which is a decline from the year before of 2-point-5-7 percentage points.
The country's dependence on exports fell to just under 33 percent, the lowest since 2007.
Exports had been projected to increase this year, but those hopes were dashed by the pandemic.