Published : Oct. 18, 2016 - 13:44
South Korea's exports of industrial parts and materials slipped slightly from a year earlier in the first nine months of the year amid weak global demand and low oil prices, the trade ministry said Tuesday.
Outbound shipments of industrial parts and materials dropped 6.9 percent on-year to $185.7 billion in the January-September period, accounting for a record 51.1 percent of the country's overall exports, according to the Ministry of Trade, Industry and Energy.
Imports also fell 6.5 percent on-year to $112.8 billion over the nine-month period, with the country posting a trade surplus of $72.9 billion in the sector.
For the third quarter alone, the sector posted a 2.1-percent annual decline in exports to reach $64.1 billion and saw its imports retreat 2.9 percent to $38.6 billion.
Shipments to most regions declined on sluggish global demand, the ministry said.
Exports of industrial components and materials to China sank 13.2 percent on-year to $60.4 billion and those to the Middle East tumbled 18.2 percent to $8.1 billion through September, while exports to the United States inched down 0.5 percent to $20.3 billion over the cited period. (Yonhap)