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SMEs' exports grow faster than large companies: customs data

SMEs' exports grow faster than large companies: customs data

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Published : 2013-12-18 14:57
Updated : 2013-12-18 14:57

South Korea's small- and mid-sized enterprises (SMEs) saw their exports grow at a faster pace than large companies over the past five years, customs data showed Wednesday.

According to the data by the Korea Customs Service, SMEs’exports grew 8.9 percent from 2007 to 2012, which is faster than a 7.6 percent gain tallied for large businesses during the same period.

During the period, exports by SMEs accounted for about 38 percent of the country's total outbound shipments, the data showed.

In 2007, SMEs exported a combined US$142.5 billion worth of products. The amount had grown 53.1 percent until 2012 when their exports came to $218.2 billion, the data showed.

SMEs fared relatively well in selling parts of electronics devices, whose exports made up 5.9 percent of total shipments in the area. Their exports of transportation-related equipment came next with a 3.9 percent share, according to the data. (Yonhap News)

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