Korean trading academy released a report on February 27, claiming that market shares of Korean products continue to see a decline in United States.

 

Korean only makes up 2.43 percent of US market in 2007, compared to its 3.14 percent in 2004. It is the third year when the country sees a downtrend. Toys and sporting tools had decreased by 0.31 percent in 2007. Shares of rubber and plastic have also fallen by 0.21 percent and 0.18 percent respectively.

 

According to the report, decline mainly arises from two aspects. Firstly, Korean products are outshone by China, India and Vietnam in price competitive power. When price of crude oil and raw matricidal soaring up, on the other hand, US imports more products from Algeria, Angola, Nigeria, Russia and Brazil. Thirdly, countries that sign FTA with US trend to increase their export to the latter.