Refined petroleum products led South Korea's exports in the first half of this year thanks to higher prices, accounting for 9.9% of all outbound shipments, a report showed Thursday. The report by the Korea Petroleum Association (KPA) said exports of petroleum products totaled US$27.28 billion in the January-June period, up, 11.5% from a year earlier, South Korea's news agency (Yonhap) reported. "The gain is mainly due to a steep rise in crude oil prices that also marked up refined product costs," the association said. The average price of Dubai crude, which makes up the bulk of South Korea's imports, stood at $126.2 per barrel in the January-June period, a gain of 7.1% from $117.8 from the year before. The KPA said 85.9% of all exports were high value-added products such as gasoline, diesel, kerosene, jet fuel and naphtha. China was the largest market for South Korean refined petroleum products followed by Japan, Singapore, Indonesia and Australia. Exports to China made up 26.9% of the total, with shipments to Japan and Singapore accounting for 14.7% and 14.5%, respectively. Asian markets accounted for 85.9% of all exports. According to the report, ships and cars accounted for 9.3% and 9.1% of all overseas shipments in the first half, followed by semiconductors and general machinery at 8.8% each. Exports of autos reached $25.01 billion, up 15.7% from a year earlier, while numbers for semiconductors contracted 1.6% to $24.36 billion. In the first half of this year, South Korea's exports edged up 0.7% on-year- to $275.38 billion with imports rising 2.5% to $264.64 billion.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor