S. Korea's Parts Exports Hit Record-high In H1

South Korea's parts exports rose to a record high in the first half of this year on strong demand for electronics parts and petrochemical products, government data showed Thursday.

SEOUL, (UrduPoint / Pakistan Point News - 19th Jul, 2018 ) :South Korea's parts exports rose to a record high in the first half of this year on strong demand for electronics parts and petrochemical products, government data showed Thursday.

Outbound shipments of parts and materials reached $155.6 billion in the January-June period, up 15.6 percent from a year earlier, the Ministry of Trade, Industry and Energy said.

Imports of parts and materials increased 8.2 percent to $88.1 billion, with the trade surplus reaching a record high of $67.5 billion, the ministry said.

Exports of electronics parts gained 26.1 percent on-year to $66.

4 billion on the back of upbeat demand for memory chips, accounting for 42.7 percent of the total. Sales of petrochemical products surged 16.1 percent to $25.1 billion.

In contrast, shipments of auto parts declined 2.4 percent to $13.7 billion on downbeat sales of South Korean vehicles in major markets, including the United States and China.

By country, exports to China, South Korea's largest trading partner, jumped 23.5 percent over the period, led by electronics parts and petrochemical products. Sales in Europe and the United States advanced 21.7 percent and 11.1 percent, respectively, the ministry said.