Korean Chamber of Commerce and Sector Investigation Success
Semiconductor export share from 3.2% to 39.7%
Precision devices, shows, and so on.
The improvements centered on higher extra worth industries
The share of semiconductor exports to China has amplified 13 periods in the previous 20 several years. It is analyzed that dependence on exports to China has improved drastically.
In accordance to the ‘Report on Alterations in Export Dependence on China by Field and Implications’ released by the Korea Chamber of Commerce and Market on the 21st, the industries with the greatest share of exports to China very last year ended up precision devices (42.5%) , good chemical substances (40.9%), semiconductors (39.7%), and glass (39.7%), 39.3%), followed by petrochemicals (38.9%). This is the outcome of analyzing the ratio of Chinese exports to global exports by marketplace.
The business with the most significant share of exports to China above the previous 20 yrs was counted as semiconductors. The share of exports to China in the semiconductor marketplace enhanced by 36.5 proportion details (about 13 times) from 3.2% in 2000 to 39.7% past 12 months. For the duration of the same period of time, the 2nd to 5th industries with the largest increase in exports to China ended up △Precision equipment (7.5% → 42.5%) △Display (2.% → 35.2%) △ Ceramics (5.6% → 32.3% ) △ Interaction instruments (1.5% → 27.9%).
The industries with the best share of exports to China in 2000 were wooden (42.3%), leather/sneakers (38.8%), petrochemicals (33.4%), and other electronic factors (27.2%). The report mentioned, “Though the dependence on the export of shopper merchandise to China has decreased rather, the exports of technology-intense industries to China have enhanced noticeably.”
On the other hand, he also analyzed that the boost in dependence on China for large price-extra industries in Korea is extremely very likely to be strike when the technological hole with China narrows.
Korea’s exports to China totaled $162.9 billion very last year, accounting for 25.3% of total exports. This is an nearly 9-fold improve compared to 2000 (US$18.5 billion), which accounted for 10.7% of overall exports. Imports from China greater far more than tenfold from $12.8 billion (8.%) in 2000 to $138.6 billion (22.5%) in 2021.
Reporter Jung Ji-eun jeong@hankyung.com
