South Korea’s petrochemical exports surge by 94.9% in May

Nurluqman Suratman


SINGAPORE (ICIS)–South Korea’s petrochemical exports rose by 94.9% year on year in May to $4.5bn, supporting the overall surge in shipments abroad, official data showed on Tuesday.

The country’s overall exports rose by 45.6% year on year in May to $50.7bn while imports were up by 37.9% to $47.8bn, the Ministry of Trade, Industry and Energy (MOTIE) said in a statement.

The country’s exports of automobiles rose by 93.7% to $3.49bn in May.

South Korea’s overall exports to China rose by 22.7% year on year while shipments to the US surged by 62.8%.

South Korea’s central bank last week revised its annual growth projection for 2021 to 4% from a previous forecast of 3% made in February on the back of a recovery in exports.

Photo: A container port at Busan, South Korea (Ryu Seung-Il/ZUMA Wire/Shutterstock)


ICIS Premium news service

The subscription platform provides access to our full range of breaking news and analysis

Contact us now to find out more

Speak with ICIS

Now, more than ever, dynamic insights are key to navigating complex, volatile commodity markets. Access to expert insights on the latest industry developments and tracking market changes are vital in making sustainable business decisions.

Want to learn about how we can work together to bring you actionable insight and support your business decisions?

Need Help?

Need Help?