(MENAFN) S. Korea's two-way trade is predicted again to rebound the USD 1tr mark in 2016, after a poor result in this current year.
Moreover; the Korea International Trade Association (KITA) expected exports to increase 2.3 percent in the following year to USD 544bn, with imports improving 4.8 percent to USD 461bn.
In addition, S. Korea is one of the major importers of oil, and one of the top producers of advanced petroleum products and petrochemicals in the world.
"The global market share for South Korean products reached 3.3 percent in the first half, up from 3 percent in 2014, while the country ranked sixth worldwide in terms of exports, up from seventh in 2014," said KITA.
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