Corona19 The global pandemic is likely to make it difficult for Korea to achieve 1 trillion dollars in trade this year as exports shrink.

According to the financial sector, the Bank of Korea forecast this year's trade volume to be $ 925 billion (clearance), a 9.1% decrease from last year.

Han Eun predicted that this year, exports will decrease by 8.5% compared to last year to $ 490 billion, and imports will decrease by 9.8% to $ 440 billion.

It is predicted that the annual trade volume of 1 trillion dollars, which has been achieved for the third consecutive year until last year, will break.

South Korea's exports fell by a double-digit rate in 10 years last year.

According to the Ministry of Trade, Industry and Energy, last year's exports amounted to 52.41 billion dollars, down 10.3% from the previous year.

The double-digit reduction rate is the first time since 2009 (-13.9%) after the financial crisis.

Imports also declined 6.0% to $ 532.32 billion, but the total combined trade amounted to $ 1.46 trillion, surpassing $ 1 trillion for the third consecutive year.

However, as Corona 19 gradually spread to the world after January of this year, the export route was blocked.

According to the Korea Customs Service, the export growth rate in March was -0.7% based on customs clearance. In April, the rate of decline increased significantly to -24.3% (daily average -17.4%).

In April, the trade balance turned to deficit in 99 months.

However, Han Eun predicted that next year, Korea's annual trade will exceed $ 1 trillion again.

Han Eun predicted next year that the export volume will be $ 450 billion and the import volume will be $ 500 billion, with a total trade value of $ 1.45 trillion.

Han said, "As the economic activity of each country gradually resumes, exports will gradually improve from the second half."