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Oil products S. Korea''s top export item for 10 months  Join our daily free Newsletter

MENAFN - Kuwait News Agency (KUNA) - 06/11/2012

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(MENAFN - Kuwait News Agency (KUNA)) Petroleum products have retained the status of South Korea's top export item for the first 10 months of the year, the Korea Petroleum Association said on Monday, according to public broadcaster KBS.

Outbound shipments of oil products came to USD 5.2 billion in October, up 27.7 percent year-on-year, and surpassed semiconductors' USD 4.6 billion, the association said.

In the January-October period, oil product shipments reached a total USD 46.
8 billion, up 10 percent from the same period last year.

Semiconductors ranked second with USD 41.5 followed by machinery, vehicles and petrochemical products.

Thanks to domestic oil refiners' efforts to diversify export markets, the proportion of oil products in the country's total exports steadily grew from 6.
8 percent in 2010, 9.3 percent in 2011 and 10.3 percent in the first 10 months of the year, it added.

Kuwait is South Korea's No. 2 crude oil supplier after Saudi Arabia, shipping 368,000 barrels per day in the January-September period.

 






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