ID :
30545
Sun, 11/16/2008 - 21:09
Auther :
Shortlink :
https://www.oananews.org//node/30545
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S. Korean global top selling products edge down in 2006
SEOUL, Nov. 16 (Yonhap) -- The number of top-selling South Korean-made products
around the world fell by one in 2006 to 58 from the previous year, a report by
the Korea International Trade Association (KITA) said Sunday.
The umbrella trade group said the dip did not affect the country's 17th place
ranking in the overall number of products that were top sellers in the world,
with these products accounting for 1.6 percent of all global trade in the one
year period.
It added that exports of these goods reached US$44.6 billion, up 34.5 percent
from 2005.
KITA said that heavy industry-related products in the manufacturing of steel and
shipbuilding made up the bulk of the total, while numbers for light industries
declined.
"Compared to the year before, 12 products fell out of the global top ranking
list, while 11 were added," the report said.
Many that made the list are components used to make steel, ships, and electrical
equipment like copper nickel alloys, magnetic flywheels, magneto generators and
cargo ships.
Products taken off the list were components for liquid crystal displays, oil and
gas pipes, and cathod ray tubes used in TV sets.
KITA said the gap between South Korean products that led the pact and those that
ranked second in market share dropped from an average 10.8 percent in 2002 to 9.2
percent in 2006. This, it said, indicated that local products are facing stiffer
competition from foreign rivals.
"In heavy industries, many South Korean products do well, but cheaper goods,
particularly from China, are eroding the lead in light industries," the umbrella
trade organization said.
The latest report, meanwhile, said China had the largest number of products that
were rated as global best sellers at 1,029, a gain of 97 from 2005.
It said, however, that in terms of market share, Germany made up 20.5 percent of
the global volume with 866 best sellers that traded hands, making it first in
this field. This is because German products were more value-added and high-tech
than products made in China, KITA said.
yonngong@yna.co.kr
(END)
around the world fell by one in 2006 to 58 from the previous year, a report by
the Korea International Trade Association (KITA) said Sunday.
The umbrella trade group said the dip did not affect the country's 17th place
ranking in the overall number of products that were top sellers in the world,
with these products accounting for 1.6 percent of all global trade in the one
year period.
It added that exports of these goods reached US$44.6 billion, up 34.5 percent
from 2005.
KITA said that heavy industry-related products in the manufacturing of steel and
shipbuilding made up the bulk of the total, while numbers for light industries
declined.
"Compared to the year before, 12 products fell out of the global top ranking
list, while 11 were added," the report said.
Many that made the list are components used to make steel, ships, and electrical
equipment like copper nickel alloys, magnetic flywheels, magneto generators and
cargo ships.
Products taken off the list were components for liquid crystal displays, oil and
gas pipes, and cathod ray tubes used in TV sets.
KITA said the gap between South Korean products that led the pact and those that
ranked second in market share dropped from an average 10.8 percent in 2002 to 9.2
percent in 2006. This, it said, indicated that local products are facing stiffer
competition from foreign rivals.
"In heavy industries, many South Korean products do well, but cheaper goods,
particularly from China, are eroding the lead in light industries," the umbrella
trade organization said.
The latest report, meanwhile, said China had the largest number of products that
were rated as global best sellers at 1,029, a gain of 97 from 2005.
It said, however, that in terms of market share, Germany made up 20.5 percent of
the global volume with 866 best sellers that traded hands, making it first in
this field. This is because German products were more value-added and high-tech
than products made in China, KITA said.
yonngong@yna.co.kr
(END)
