South Korea has fared better than its Asian rivals, Singapore and Taiwan, in terms of exports over the past decade.

According to a JP Morgan report on Thursday, South Korea has steadily increased its share of the global exports market from two-point-eight percent in 2005 to three-point-one percent in 2010 and three-point-four percent last year.

Taiwan’s portion, on the other hand, continued to fall from one-point-nine percent in 2005 to one-point-eight in 2010 and to one-point-seven percent last year.

Singapore accounted for two-point-two percent in global exports last year, the same figure it recorded in 2005. Compared with 2010, it was a zero-point-one percentage point less.

South Korea’s exports managed to jump despite the currency’s appreciation. The real value of the won has jumped seven percent since 2010. The Singaporean and Taiwanese currencies depreciated over the same period by 10 percent and five percent, respectively.

JP Morgan researcher Kim Ji-won said that compared to Taiwan and Singapore, South Korea has diversified export items and thus could be less influenced by external factors such as a fall in demand from developing Asian economies.