The number of South Korean products with the largest share in their global export market dropped slightly from a year earlier in 2014, but their combined share rose significantly, indicating a possible rise in their global competitiveness, a report showed Sunday.
According to the report from the Korea International Trade Association, the number of South Korean products with the largest share in the export market came to 64 in 2014, down from 65 the previous year.
Unlike global market share, which views the proportion of a given product from a country in the context of the total amount sold globally, export market share only considers the proportion of a given product to the total amount shipped across borders.
The drop in 2014 came as the country added 17 new No. 1 products to its list while 18 others gave way to other global competitors, according to the report.
(Yonhap)
Of the total, 47 products remained No. 1 products in the global export market for two consecutive years, while 20 of them, including certain types of semiconductors and automobile parts, did so for five consecutive years.
The combined amount of the 64 No. 1 products shipped overseas spiked 19.3 percent on-year to $111.8 billion in 2014 with their combined proportion in overall South Korean exports also expanding 2.8 percentage points to 19.5 percent over the cited period.
The report said the number of South Korean products with the 10th largest or greater market share in the global export market came to 1,338 in 2014, up 65 from the previous year.
In 2014, China had the largest number of No. 1 products in the world's export market with 1,610 products, followed by Germany with 700 No. 1 products, it added. (Yonhap)
