South Korea ranks eighth in global trade volume

South Korea ranked eighth in terms of global trade volume during the first half of 2014, one notch higher than the previous year, a report showed Sunday.
According to the report by the Institute for International Trade, a research agency, South Korea’s trade volume came to US$546.4 billion during the January-June period.
The amount is the eighth largest among the 71 major countries surveyed by the agency.
South Korea’s exports grew 2.5 percent on-year to $283.3 billion during the first half, the seventh largest in the world, while its imports came to $263.1 billion, the ninth largest, the report showed, South Korean news agency (Yonhap) reported.
China topped the list with its total trade volume reaching $2.02 trillion, followed by the U.S. with $1.98 trillion and Germany with $1.39 trillion, the report showed.