Last Year Corporate Export Value Down 5.5%... Large Enterprises Down 7.3%

[Sejong=Asia Economy Reporter Moon Chaeseok] Last year, the export value of Korean companies decreased by 5.5% compared to the previous year. The decline in export value among large corporations was 7.3%, which was greater than the overall average.

On the 25th, Statistics Korea announced the '2020 Trade Statistics by Company Characteristics (Provisional)' containing this information.

The number of exporting companies last year was 97,012, a 0.4% decrease from the previous year. The export value was $511.2 billion, down 5.5%. The number of importing companies increased by 3.2% to 198,890, but the import value decreased by 7.2% to $460 billion.

By company size, the export value of large corporations was $322.5 billion, down 7.3% from the previous year, influenced by raw materials (-21.3%) and consumer goods (-6.5%). The import value was $268.2 billion, a 10.8% decrease.

Mid-sized companies had an export value of $93.3 billion, down 0.3%, and an import value of $78.1 billion, up 0.7%. Small and medium enterprises (SMEs) had an export value of $95.5 billion, down 5.5%, and an import value of $113.7 billion, down 2.9%.

By industry, the export value of the manufacturing sector was $432.5 billion, accounting for 84.6% of the total. Wholesale and retail trade ($59.7 billion, 11.7%) and other industries ($19.1 billion, 3.7%) followed.

By employee size, companies with 250 or more employees had the highest export value at $390.3 billion (76.3%). This was followed by companies with 50?249 employees ($65.7 billion, 12.8%), 10?49 employees ($30.2 billion, 5.9%), and 1?9 employees ($25.1 billion, 4.9%).

The dependence on the top 10 exporting companies was 35.4%, and on the top 100 exporting companies was 63.2%.

This content was produced with the assistance of AI translation services.