(MENAFN) Overseas orders for South Korea's industrial plants dropped in the January-September period of the year on year, partly due to a slowdown in the global oil industry, QNA reported.
Overseas orders in the first nine months amounted to USD42.96 billion, down 7 percent from USD46.21 billion on year, according to the South Korea's Ministry of Trade, Industry and Energy.
The ministry attributed the decrease mostly to a cut in fresh investment by global oil companies, which, in turn, led to a reduction in the number of global orders for offshore plants.
"Orders for inland facilities rose 30.4 percent on-year to USD39.5 billion, but orders for offshore plants dropped 78 percent to USD3.45 billion due to a reduction in investment by oil majors," it said.
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