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Exports of industrial parts, materials sink in H1

July 14, 2016 - 11:02 By 임정요

South Korea's exports of industrial parts and materials fell in the first half of the year amid weak global demand and low oil prices, the trade ministry said Thursday.

Outbound shipments of industrial parts and materials dropped 9.2 percent on-year to US$121.8 billion in the January-June period, accounting for 50.4 percent of the country's overall exports, according to the Ministry of Trade, Industry and Energy.


Imports also retreated 8.2 percent on-year to $74.2 billion over the six-month period, with the country posting a trade surplus of $47.5 billion in the sector.

Shipments to most regions declined on sluggish global demand, the ministry said.

Exports of industrial parts and materials to the Middle East tumbled 19.4 percent on-year to $5.6 billion, and shipments to China plunged 14.9 percent to $39.7 billion, while exports to the United States inched down 0.8 percent to $13.6 billion over the cited period. (Yonhap)