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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: RealMuLan who wrote (36623)7/27/2003 5:01:47 PM
From: RealMuLan  Read Replies (1) of 74559
 
Korea, China outpace Japan in Europe


Korea and China's market shares in the European Union are growing, while Japan's, traditionally a strong exporter, is slowing significantly, the Korea Trade-Investment Promotion Agency said yesterday.
The report showed that China has seen its exports to the region grow at an annual rate of 12.8 percent over the past seven years. As a result, China replaced Japan as the second largest exporter in the market after the United States, with its market share jumping from 5.16 percent in 1996 to 8.29 percent last year while Japan slipped to third with 6.89 percent, a 0.3 percent drop from the level of 9.01 percent.

Korea has also seen its EU-bound exports grow at an annual rate of 2.26 percent, an improvement from the 1.90 percent recorded in 1996.

In the first five months of this year, China led Asia's three largest economic giants with its exports growth recording 48.3 percent followed by Korea with 20.2 percent and Japan with 12.4 percent, the report said.

The report also said that China's dependence on the top three export items in the region stood at only 28.6 percent while the corresponding figures for Korea and Japan were 65.8 percent and 70.4 percent respectively.

koreaherald.co.kr
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