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Number of exporters edges up amid weaker overseas shipments in 2019

All News 14:18 July 29, 2020

SEOUL, July 29 (Yonhap) -- The number of exporting firms in South Korea inched up in 2019 but their overseas shipments fell more than 10 percent amid a global economic slowdown, government data showed Wednesday.

Exporting companies in Asia's fourth-largest economy numbered 98,568 last year, up 1.2 percent from the previous year, according to the data from the Korea Customs Service (KCS).

Their combined exports, however, decreased 10.3 percent from a year earlier to US$541.1 billion in 2019.

The number of importing companies increased 4 percent on-year to 195,661 last year, while their imports shrank 6.1 percent to $477 billion.

The value of their trade thus declined 8.4 percent on-year to $1.018 trillion in 2019.

Of the exporting companies, 430 registered exports of $100 million or more last year, down 11 from the prior year. Slightly over 53 percent of the exporting firms, or 52,671, chalked up exports below $100,000 last year, according to the data.

Number of exporters edges up amid weaker overseas shipments in 2019 - 1


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