ULSAN < invest Korea

According to Yonhap News,

Ulsan has posted the trade surplus for two months in a row.

According to ‘the export and import of the Ulsan region in March’ announced by Ulsan Customs on April 19th, the trade surplus of the region was USD1.4 billion with the export of USD8.18 billion and the import of USD6.78 billion.

The trade surplus of Ulsan in February was USD280 million.

The export of automobiles rose by 15% on a year-on-year basis despite the Libyan crisis and the Japanese devastating earthquake in March.

The export amounts of oil and chemical products increased by 76% and 37% respectively on the back of the rise in export prices stemming from soaring global oil prices.

Around 5.15 million tons of oil was imported this year, a 20% increase from the same period last year.

The chemicals import rose by 28% from last year thanks to the economic recovery. The import of molybdenum increased slightly by 5% because of the rise in import prices.

Source Text

Source: Yonhap News (April 19, 2011)

**This is an English translation of a Korean news article.