ULSAN < invest Korea

According to Yonhap News,

Ulsan's November exports increased, particularly in petrochemical products, automobiles, and vessels, compared to the same period of the previous year.

On Dec. 20, Korea Customs Service Ulsan released the November trend of export and import, and the data showed that the value of exports upped to USD 7.26 billion, by 7.3 percent year over year. On the other hand, the value of imports also increased to USD 6.22 billion, by 19.5 percent.

And the trade balance has continued to post a surplus for 98 months since 2014.

In terms of exports by item, petroleum products swelled to USD 2.34 billion, up 24.6 percent from the previous year, mainly due to the international oil price.

Automobiles also spiked by 23.3 percent, recording USD 2.17 billion thanks to the increase in the SUV export.

On the other hand, chemical products showed a decrease of 23.8 percent in exports due to the economic downturn.

Making up more than half of the exports, crude oil climbed to USD 4.07 billion, up by 37.5 percent year-on-year.

yongtae@yna.co.kr

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Source: Yonhap News (Dec. 20, 2022)

*This article was translated from Korean.