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MENAFN - 26/11/2012

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(MENAFN) South Korea's Ministry of Knowledge Economy stated that the country's trade volume is forecasted to surpass USD1 trillion this year, ranking the nation as the 8th-largest trader in the world, reported Xinhua News.

South Korea's trade volume exceeded the USD1-trillion mark for the first time in 2011.

The ministry said that trade volume in the first 9 months of the year slipped 1.3 percent from last year's same period to USD797.9 billion.

On the other hand, the ministry noted that in 2013, export conditions will not get much better from this year, as a result of the prolonged euro zone crisis and the global economic slump.

It is worth noting that other major economies posted declines in their January-September trade volume, including Germany, with a fall of 6.3 percent, France down 6 percent and Italy 10.3 percent.

 






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