Amount of exports by small and medium companies in 2018 surpassed $100 billion for two years in a row.

Exportation of equipment related to booming of semiconductor industry and increase in exportation of materials such as cosmetics had had positive effect on amount of exports by small and medium companies.

Although amount of annual sales increased by 8% compared to the previous year, amount of sales in December was actually in decline.  Level of sense of crisis towards exportation is starting to grow this year due to slow growth of economies of major countries and reduction of unit cost of semiconductors.

Ministry of SMEs and Startups (MSS) announced ‘Trend of Exportation by Small and Medium Companies in 2018’ based on materials by Korea Customs Service.

Amount of exports by small and medium companies in 2018 was $114.6 billion.  It surpassed $100 billion in just 11 months due to booming of global manufacturing industry.  It was responsible for 18.9% of entire amount of exports ($605.1 billion).

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Plastic products, semiconductor manufacturing equipment, plating display manufacturing equipment, steel plate, cosmetics, and measuring control analyzer achieved their best performance when it comes to export.

Amount of exports of semiconductor manufacturing equipment ($3.1 billion) and plating display manufacturing equipment ($3 billion) increased by 34% and 68% respectively due to booming of semiconductor industry and became top 10 export items for the first time.

Amount of exports of plastic products that had maintained the top export items followed by 2017 increased again due to increase in global production of electric vehicles.  Amount of exports of automotive parts ($4.9 billion) increased slightly due to increase in exports of parts to factories in foreign countries.

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Wireless telecommunication devices fell out of top 10 export items due to reduction of amount of exports.  In Chinese market alone, amount of exports of telecommunication devices decreased from $310 million to $230 million due to competitions with Chinese Smartphone manufacturers.

Amount of exports of promising materials such as cosmetics, medicines, and clothing increased by 6.9% due to recovery of global economy and effect of South Korean wave.  It somehow filled gaps made by lack of exports in major countries such as Vietnam and China.
Amount of exports in top 10 export countries such as China, U.S., Japan, and Vietnam was responsible for 70.9% of entire amount of exports.  Amount of exports in China and the U.S. increased by double figures due to extension of display plants and booming of manufacturing industry.  Amount of exports in Japan surpassed $10 billion for the first time in 4 years due to increase in demands for items related to 2020 Tokyo Olympics.
There are concerns about foreign trades this year due to slow growth of economies of major countries.

Staff Reporter Park, Jungeun | jepark@etnews.com
 
Trend of amount of exports by small and medium companies (unit: 100 million)

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