The Korea International Trade Association (KITA) reported that the shipment of Korean goods out of South Korea during the first 5 months of 2004 rose by 38.4 percent over the same period last year. China's export of goods increased 33.3 percent.
This a positive indicator for the Korean economy and the South Korean leadership that has hopes for a strong 2004.
Korea also out-performed other countries in the region. For example, among the major exporters Taiwan and Singapore's rate was 26 percent, and Japan's was 21.9 percent
KITA projected that Korean exports will hit a record high of $123 billion for the first half of the year on the back of strong overseas demand for Korean high-tech goods.
Leaders in Korea's high tech export growth include semiconductor, wireless communications and personal computers.
Top non-information technology sector that performed well included machinery, which grew by 60 percent and cars that had a growth rate of 38.8 percent.
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