INTERACTIVE: S Korea July exports of most petchems post on-year growth

22 August 2017 05:15 Source:ICIS News

SINGAPORE (ICIS)--South Korea’s export volumes of most petrochemicals in July grew on a year-on-year basis, with shipments of paraxylene (PX) posting a 10.9% increase to 599,713 tonnes, industry data showed on Tuesday.

Of the 30 chemicals whose shipments were tracked by ICIS, 18 recorded higher volumes in July compared with the previous corresponding period, while 12 registered declines, according to data from the Korea International Trade Association (KITA) website. (Please see interactive table below in full screen)

Exports of benzene rose by 21.7% year on year to 207,039 tonnes, while shipments of toluene abroad were down by 49.8% at 22,877 tonnes, according to KITA.

On the olefins front, South Korea’s exports of ethylene fell by 5.1% year on year to 55,838 tonnes while shipments of propylene were down by 15% at 133,240 tonnes, the data showed.

South Korea’s total petrochemical exports in July stood at $3.5bn, up 13.5% from the same period last year, marking their 10th consecutive month of growth, according to the country’s Ministry of Trade, Industry and Energy (MOTIE).

“This was led by higher export prices linked to rising oil prices as well as operation of newly added production facilities despite certain facilities undergoing regular maintenance,” it said in a statement.

Outbound shipments of petroleum products inched up by 0.1% year on year to $4bn in July, while automobile exports grew by 7.5% year on year to $3.6bn, MOTIE said.

South Korea’s overall exports rose by 19.5% year on year to $48.9bn in July, while imports were 14.5% higher at $38.2bn, the ministry said.

Its July trade surplus stood at $10.7bn, staying in the black for the 66th straight month.

Photo: A South Korea flag on board a vessel (Sipa Press/REX/Shutterstock)

By Nurluqman Suratman