69 products of the world’s No. 1 Korean products… 11th in the national ranking,’the best ever’-Daily Good News

A total of 69 products were surveyed in Korea, which ranked first in the global export market as of 2019. The country’s ranking is 11th, up two calculations compared to the previous year, and it has risen to the highest ranking ever since 2002, when the survey began.

▲ No. 1 item in global export market (Photo = Yonhap News)

According to the report on the 7th by the Institute for International Trade and Trade of the Korea International Trade Association,’Korea’s Export Competitiveness Status as the No. 1 Item in the World’s Export Market’, the number of Korea’s world’s No. 1 items increased by 7 from the previous year to 69 items. There were 16 new items in the first place, and nine items were pushed out of the first place.

By item, compounded products (27 items) and steel and non-ferrous metals (18 items) accounted for 65.2% of the total.

The 16 items that newly entered the No. 1 item are electronic devices, solid state drives (SSD, $4.71 billion), which are data storage devices using semiconductors, metal oxides ($1.96 billion), which are chemical products, and steel. Many items with a large export value were included, such as non-ferrous metals, such as hot-rolled products ($1.63 billion). In particular, SSDs surpassed USD 10 billion in exports for the first time in 2020, and are positioned as the next generation export engine in Korea.

As of 2019, the country with the largest number of items in the world’s export market was China (1,759 items), ranking first for five consecutive years. Next was Germany (654), the United States (520), Italy (217), and Japan (156).

The competition between Korea, China and Japan was also fierce for the world’s number one item. Of the nine items that Korea gave the No. 1 position, China took the first place in four items.

Twelve out of 69 Korea’s No. 1 items are closely followed by Japan in the second place.