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HRI: S. Korean Exports to Hit Record High in 2021

Write: 2021-04-08 19:18:25Update: 2021-04-08 19:19:07

HRI: S. Korean Exports to Hit Record High in 2021

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A South Korean think tank says the country’s annual exports will hit a record high this year despite the protracted COVID-19 pandemic. 

In a meeting arranged by the Ministry of Trade, Industry and Energy on Thursday, Hyundai Research Institute expected outbound shipments this year will jump 18-point-one percent on-year to 605-point-3 billion U.S. dollars. 

The growth outlook surpasses the current record, 604-point-nine billion dollars, set in 2018. 

In its previous outlook in October last year, HRI estimated the 2021 exports will amount to 564-point-three billion dollars. 

The institute attributed its rosier outlook to recent export trends, as well as growing expectations for a swift recovery of the global economy.

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