On the 7th, the Korea International Trade Association Institute for International Trade and Trade released the results of a survey by country of the items that occupy the largest market share in the global export market.
11th as of 2019, 1759 China 1st
Two-thirds of valent chemicals, steel, and non-ferrous metals
As of 2019, the country with the largest export share was China (1759). China ranked first for five consecutive years. Germany ranked second (654), the United States (520) third, and Italy (217) fourth. Japan (156) ranked 5th, and Korea (69) ranked 11th.
No. 1 item in world export market share
The number of items with the No. 1 export share in Korea increased by seven from 2018. Chemical products (27) and steel and non-ferrous metals (18) accounted for about two-thirds of the number of items with the No. 1 market share. Solid state drives (SSD, $4.71 billion), a data storage device using semiconductors, entered the top market in 2019. In particular, SSD has become a major export product, surpassing 10 billion dollars (about 11.3 trillion won) in exports for the first time last year.
The Korea International Trade Association also selected metal oxide salts ($1.96 billion, chemical products) and hot-rolled products ($1.63 billion, steel and non-ferrous metals) as items that entered the No. 1 market share in 2019.
Competition between Korea, China, and Japan was also fierce for items with the largest market share in the global export market. For twelve items in which Korea occupied the No. 1 market share in 2019, Japan is pursuing the second place. For four of the nine items for which Korea gave the No. 1 market share, China took the No. 1 market share.
“Competition with China and Japan is getting fiercer (in the export market),” said Do Won-bin, a researcher at the International Trade Association.
Reporter Kim Kyung-mi
