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S. Korea's parts, materials exports hit record high
제목 없음
South Korea's exports and trade surplus in industrial parts and materials in the
first nine months of the year reached record highs on large increases in
shipments of petrochemical products and automobile parts, the government said
Thursday.
In the January-September period, the country shipped US$192.1 billion worth of industrial parts and materials, up 14.6 percent from the same period last year, according to the Ministry of Knowledge Economy.
Imports grew at a faster rate of 15.5 percent on-year to $128 billion, also a new record high, but the sheer growth of exports left a record high trade surplus of $64.1 billion, up $7.3 billion from the same period last year, it said.
"In addition, the country is posting a trade surplus of over $5 billion a month for 25 months in a row," the ministry said in a press release. "If such a growth trend continues, the country's trade surplus in industrial parts and materials will reach over $80 billion this year."
Shipments of industrial materials, such as petrochemical products, jumped 30.4 percent to $69.6 billion with exports of parts, including memory chips and automobile parts, rising 7.1 percent to $122.5 billion.
By country, exports to Japan rose 30.5 percent to $12.9 billion while imports from the neighboring country only rose 6.5 percent to $30 billion, significantly reducing South Korea's chronic trade deficit by $1.18 billion from the same period last year to $17.1 billion.
China continued to be South Korea's largest market for industrial parts and materials with $66.4 billion worth of products shipped there in the first three quarters, up 8.7 percent from the same period last year, according to the ministry.
Shipments to Southeast Asia and oil producing countries in the Middle East soared 29.4 percent to $34 billion, it said.
Date
2011.10.06
In the January-September period, the country shipped US$192.1 billion worth of industrial parts and materials, up 14.6 percent from the same period last year, according to the Ministry of Knowledge Economy.
Imports grew at a faster rate of 15.5 percent on-year to $128 billion, also a new record high, but the sheer growth of exports left a record high trade surplus of $64.1 billion, up $7.3 billion from the same period last year, it said.
"In addition, the country is posting a trade surplus of over $5 billion a month for 25 months in a row," the ministry said in a press release. "If such a growth trend continues, the country's trade surplus in industrial parts and materials will reach over $80 billion this year."
Shipments of industrial materials, such as petrochemical products, jumped 30.4 percent to $69.6 billion with exports of parts, including memory chips and automobile parts, rising 7.1 percent to $122.5 billion.
By country, exports to Japan rose 30.5 percent to $12.9 billion while imports from the neighboring country only rose 6.5 percent to $30 billion, significantly reducing South Korea's chronic trade deficit by $1.18 billion from the same period last year to $17.1 billion.
China continued to be South Korea's largest market for industrial parts and materials with $66.4 billion worth of products shipped there in the first three quarters, up 8.7 percent from the same period last year, according to the ministry.
Shipments to Southeast Asia and oil producing countries in the Middle East soared 29.4 percent to $34 billion, it said.
Source: Yonhap News (Oct. 6, 2011)