S Korea’s petrochemicals exports rise 21.7%

09 July 2007 11:28  [Source: ICIS news]

SINGAPORE (ICIS news)--Exports in South Korea’s petrochemicals sector in the first half of 2007 were up 21.7% to $13.7bn from a year ago and double-digit growth is expected to continue into the second half despite currency depreciation, the country’s commerce industry said in a report on Monday.

 

Due to new capacities and expansions coming on stream in Asia and the Middle East from July to December, the supply-demand balance in petrochemical products was expected to ease, it said, with an estimated 10.8% increase to $14.2bn in exports for the upcoming six months.

 

South Korea’s total exports for the first half of the year stood at $178.1bn, up 14.7% from the same period a year ago, while imports totalled $169.7bn, up 13.7%, the Ministry of Commerce, Industry and Energy said in the report.

 

Total exports for the second half of 2007 were expected to increase 11.2% to $189.1bn from the same period a year ago, while imports were up 14% to $182.5bn. The trade surplus for the July to December period was forecast at $6.6bn, it added.

 

By: Gina Myung
+65 6780 4359

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