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SEOUL- South Korea’s exports expanded at their fastest pace in 11 years in 2021, with the total export value reaching a record high, supported by post-pandemic recoveries in global demand.
For the full year, exports rose 25.8 percent from a year earlier to $644.54 billion, trade ministry data showed on Saturday, the fastest pace since 2010.
That also marked the first growth in three years after contractions of 5.5 percent and 10.4 percent in 2020 and 2019, respectively.
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“Now is the time to head towards the $700 billion export-era … The trade ministry will step up policy efforts so that industries and exports can tow the complete (economic) normalization this year,” Minister Moon Sung-wook said.
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