South Korea's two-way trade is expected to again exceed the $1 trillion mark in 2016 thanks to a rebound in the global economy after a lackluster performance this year, a report showed Sunday.

South Korea's trade volume will likely increase 4 percent on-year to $1.02 trillion next year on the back of the world economy's recovery, according to the report by Hyundai Research Institute.  

South Korea's exports are projected to expand 3.9 percent in 2016 from this year, with its imports climbing 4.1 percent over the cited period.

"The growth rate of the world economy is forecast to rise to 3.6 percent next year from 3.1 percent in 2015, which will likely help expand South Korea's trade," the HRI said.

This year, South Korea's trade volume is projected to decline 10.9 percent on-year to $978.4 billion, according to the report.

Asia's fourth-largest economy became the ninth country in the world to export and import more than $1 trillion worth of goods in 2011. Up until 2014, the country's total trade topped $1 trillion every year. (Yonhap)