South Korea’s annual trade volume is unlikely to top one trillion dollars this year due to a drop in exports resulting from the COVID-19 pandemic. 

According to financial industries on Monday, the Bank of Korea expects the nation’s trade volume this year to amount to 950 billion U.S. dollars, or down some nine percent from last year.  

The central bank projects exports will slip eight-and-a-half percent this year to 496 billion dollars and imports will dip nine-point-eight percent to 454 billion dollars.  

South Korea has topped one trillion dollars in annual trade volume for three consecutive years from 2017.