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5. South Korea Reaches $1 Tln in Annual Trade For 2nd Straight Yr.


5. South Korea Reaches $1 Tln in Annual Trade For 2nd Straight Yr.
South Korea reached one trillion dollars in annual trade volume for the second consecutive year, becoming the eighth biggest trading nation in the world.

South Korea's trade volume topped one trillion dollars on December tenth despite the global economic recession.

The trade volume of major trading countries began to show signs of decline from the second quarter.

Seventy countries, including the U.S. and China, saw their trade volume post minus one-point-two percent growth in April, minus three-point-six percent in June, minus five-point-eight percent in August and minus three-point-seven percent in September. Germany, Japan, France and Taiwan were also among countries that saw a drop in trade volume.

Meanwhile, South Korea, whose trade volume fell eight-point-seven percent in July year-on-year, saw its trade volume grow one-point-one percent in October after seeing declines for four months.

In November, South Korea’s exports grew three-point-nine percent year-on-year to 47-point-eight billion dollars, the highest figure to be posted this year. However, the nation’s trade surplus and annual trade volume are expected to shrink slightly compared to 2011, since annual trade volume cleared the one-trillion dollar mark five days later than last year.

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