S. Korea to become world's 4th largest exporter by 2022: report

SEOUL, May 1 (Yonhap) -- South Korea is expected to become the fourth largest
exporter in the world by 2022 from its 12th place standing as of last year, a
report cited by the Institute for International Trade (IIT) said Friday.

The report made by U.S.-based IHS Global Insight forecast South Korea's exports
would top US$1.19 trillion in the cited year, surpassing outbound shipments from
Japan.
The global service provider for economic and financial analysis said the total
will fall well shy of $6.92 trillion worth of exports forecast for China in the
same year, but should be larger than $1.18 trillion for Japan.
IHS Global Insight also said South Korea's two-way trade volume will surpass the
one trillion mark for the first time in 2012.
The IIT, under the Korea International Trade Association, said export growth
numbers reflect, in part, steady efforts by Japanese companies to move their
manufacturing bases abroad. Such measures will gradually reduce the size of
exports shipped directly from Japan.
The government, meanwhile, said on April 16 that South Korea could become the
10th largest exporting country in the world by the year's end with locally made
products grabbing at least 3 percent of global market share.
yonngong@yna.co.kr
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