S Korea Nov petrochemical exports surge 63%, overall shipments up 32.1%

Nurluqman Suratman

01-Dec-2021

SINGAPORE (ICIS)–South Korea’s petrochemical exports surged by 63% year on year to $4.84bn in November, supporting the strong growth in overall shipments abroad, official data showed on Wednesday.

The country’s overall exports rose by 32.1% year on year to $60.4bn in November, while imports were up by 43.6% to $57.4bn, resulting in a trade surplus of around $3bn, the Ministry of Trade, Industry and Energy said in a statement.

South Korea’s exports of petroleum products more than doubled to $3.96bn in November while shipments of cars were up by 3.3% at $4.12bn.

Total exports to South Korea’s major markets – China, the US, the EU and ASEAN – all registered double-digit growth in November.

These four markets accounted for 67% of South Korea’s total exports last year, according to MOTIE.

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

READ MORE

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?