With South Korea‘s exports rallying, its global market share is to touch a record high at 3.33 percent this year, a report by the Institute for International Trade, Korea International Trade Association, showed Monday.

This is beyond 3.19 percent, the most recent record high, marked in 2015.

The buoyant export trend is also expected to significantly help the local economy, with the contribution rate of exports reaching 78.5 percent as of the first nine months this year, the highest mark in five years.

The institute said the trend is expected to spark improvements in business performance that could be followed up by expansion in investments and ultimately to job creation.