South Korea’s exports of industrial parts and materials reached at a record high in the initial nine months of the year with the nation’s trade surplus in the sector anticipated that will top $100 billion for the first time, the government said on Wednesday.
In the January-September period, outbound shipments of Industrial materials and parts came to $203.3 billion, up 4.1 percent from the same period a year ago, according to the Ministry of Trade, Industry and Energy. The amount also accounts for 48 percent of the nation’s general and overall exports over the cited period. “Exports kept on growing at an steady pace as shipments to advanced countries, such as, United States, Europe and Japan, rose while those to China additionally expanded,” in a press release said the ministry.
Shipments to the United States hopped 21 percent on-year to $19.8 billion in the nine-month period from January with exports to China, the world’s single largest importer of goods related to South Korea, additionally spiking 20 percent to $69.3 billion. (Yonhap)