Reuters
In 2020, South Korea recorded a trade surplus of 24.82 billion dollars with the United States, up 18.5% compared to 2019, according to data released by the US Department of Commerce on Sunday.
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Seoul’s exports to the world’s largest economy declined 1.9% year-on-year to $ 76.01 billion, while imports fell 9.4% to $ 51.21 billion during the same period.
According to the data, South Korea ranked the seventh largest trading partner of the United States last year in terms of exports and imports.
According to the Korean Yonhap Agency, the value of South Korea’s exports last year amounted to $ 512.8 billion, a decrease of 5.4% compared to 2019, affected by the Corona pandemic, as the Korean economy witnessed a contraction of 1% last year, which represents the most severe contraction since the crisis. Finance 1997.
South Korea expects to grow its exports by 8.6% year-on-year in 2021.
Source: Yonhap
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