BUSINESS S.Korea's trade via RCEP hits 8.9 bln USD in 2022


S.Korea's trade via RCEP hits 8.9 bln USD in 2022


20:47, February 01, 2023

A visitor tries on traditional South Korean garb and makeup at an import expo in Weihai, Shandong, in Sept, 2021. (Photo: Xinhua)

SEOUL, Feb. 1 (Xinhua) -- South Korea's trade via the Regional Comprehensive Economic Partnership (RCEP) hit 8.9 billion U.S. dollars in 2022, customs office data showed Wednesday.

Export utilizing the RCEP, which came into effect in February last year in the country, reached 3.3 billion dollars in 2022, while import through the regional trade pact came to 5.6 billion dollars, according to Korea Customs Service.

The RCEP free trade agreement comprises 15 Asia-Pacific countries including 10 ASEAN member states -- Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam -- and their five trading partners, namely China, Japan, South Korea, Australia and New Zealand.

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