More exports join “one-billion USD” club
The country’s “one-billion USD” club, which comprises exports with turnover of more than US$1 billion, has been expanded after admitting an additional 12 exports as its members in the first five months of the year.
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Regarding its consumption markets, the United Arab Emirate (UAE) was the largest purchaser with US$1.5 trillion, followed by the US (US$1.47 trillion), the Republic of Korea (US$810 million) and the UK (US$637 million).
Garment and textile products were also listed in the club with US$8.6 billion in export revenue. The export revenue in the five month period in 2016 recorded a year-on-year increase of 6.1% and is expected to exceed US$24.5 billion for the whole year.
Major export markets of this commodity were the US, Japan, the RoK and Spain.
Other member of the club was computers and spare parts, which had an export revenue of US$6.34 billion in the first five months of this year, an increase of 5.4% compared to the same period in 2015. Export revenue reaching over US$100 million was seen in ten markets, including China (US$854 million), the US (US$820 million) and the Netherlands (US$539 million).
Footwear also secured a place in the one-billion USD club with US$4.96 billion earned in foreign markets during the five month period. The largest consumption markets were the US (US$1.33 billion), China (US$253 million) and Japan (US$226 million). Total export revenue of the commodity is forecast at US$12.7 billion in 2016.
Machines, equipment and tools, aquaculture products, coffee, accessories (handbags, purses, suitcases and umbrellas), rice and vegetables were also present in the club with export value of 3.63 billion USD, 2.54 billion USD, 2.45 billion USD, 1.33 billion USD, 1.13 billion USD and 1.01 billion USD, respectively.
