(MENAFN- Qatar News Agency) South Korea's exports of industrial parts surged to a record high last year as did the sector's trade surplus, the government said Thursday.
In 2013, outbound shipments of industrial parts and materials reached US$263.1 billion, up 3.8% from a year earlier, according to the South Korean Ministry of Trade, Industry and Energ
The amount accounts for over 47% of the country's total exports in 2013, which came to $559.6 billio
Imports gained 1.9% on-year to $165.5 billion, according to South Korea's (Yonhap) News Agenc
The trade surplus in the parts and materials sector also surged to a record high of $97.6 billion, far surpassing the country's overall trade surplus of $44 billion last year, according to the ministr
Shipments to China, the world's single largest importer of South Korean industrial parts and materials, rose 5.78% on-year to $91.5 billion, making up 34.8% of the sector's total exports in 201
Exports to Japan, on the other hand, dropped 8.5% on-year to $13.9 billion, an apparent outcome of the weak Japanese currency that has made South Korean products relatively more expensive in Japa
Imports from Japan also dropped by over 8% on-year to $34.4 billion last yea
The ministry forecast the sector will outperform this year as well, with exports rising 4.5% on-year to $275 billion while imports grow at a faster rate of 5% to $173.8 billion, bringing the sector's trade surplus to over $100 billion mark for the first time
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