Korea-US FTA Five Years in: Bilateral Trade Increased 1.7%
Korea-US FTA Five Years in: Bilateral Trade Increased 1.7%
  • By Oh Hae-young (info@koreaittimes.com)
  • 승인 2017.03.10 11:25
  • 댓글 0
이 기사를 공유합니다

The Korea-US Free Trade Agreement (FTA) marks its 5th anniversary on March 15. Bilateral trade between S. Korea and the United States grew an average 1.7 percent per annum  over the five-year period, according to a report released by the Institute for International Trade (IIT), a private think tank run by the Korea International Trade Association (KITA).

Over the 2012-2016 period, however, S. Korea's international trade dropped by an average 3.5 percent per year. Global trade also fell by an average 2 percent per year over the cited period.
IIT said in the report, “The Korea-U.S. FTA has propped up bilateral trade between the two countries, creating a win-win situation for both of us."

According to the report, the combined share of American goods in S. Korea's import market rose 2.14 percentage points from 8.5 percent in 2011 to 10.64 percent in 2016. On the other hand, the combined market share of S. Korean goods in the US edged up 0.62 percentage point to 3.19 percent in 2016 from 2.57% in the year (2011) before the Korea-US FTA went into effect.


댓글삭제
삭제한 댓글은 다시 복구할 수 없습니다.
그래도 삭제하시겠습니까?
댓글 0
댓글쓰기
계정을 선택하시면 로그인·계정인증을 통해
댓글을 남기실 수 있습니다.

  • ABOUT
  • CONTACT US
  • SIGN UP MEMBERSHIP
  • RSS
  • 2-D 678, National Assembly-daero, 36-gil, Yeongdeungpo-gu, Seoul, Korea (Postal code: 07257)
  • URL: www.koreaittimes.com | Editorial Div: 82-2-578- 0434 / 82-10-2442-9446 | North America Dept: 070-7008-0005 | Email: info@koreaittimes.com
  • Publisher and Editor in Chief: Monica Younsoo Chung | Chief Editorial Writer: Hyoung Joong Kim | Editor: Yeon Jin Jung
  • Juvenile Protection Manager: Choul Woong Yeon
  • Masthead: Korea IT Times. Copyright(C) Korea IT Times, All rights reserved.
ND소프트