South Korea ranked eighth in terms of global trade volume during the first half of 2014, one notch higher than the previous year, a report showed Sunday.

According to the report by the Institute for International Trade, a research agency, South Korea's trade volume came to US$546.4 billion during the January-June period.

The amount is the eighth largest among the 71 major countries surveyed by the agency.

South Korea's exports grew 2.5 percent on-year to $283.3 billion during the first half, the seventh largest in the world, while its imports came to $263.1 billion, the ninth largest, the report showed.

China topped the list with its total trade volume reaching $2.02 trillion, followed by the U.S. with $1.98 trillion and Germany with $1.39 trillion, the report showed. (Yonhap)