RoK’s parts exports up in the first quarter of this year
Parts exports of the RoK grew at a solid pace in the first quarter of this year on the back of strong demand for electronics parts and petrochemical products, according to Yonhap news agency.
Seoul (VNA) - Parts exports of the Republic of Korea grew at a solidpace in the first quarter of this year on the back of strong demand forelectronics parts and petrochemical products, according to Yonhap news agency.
Outbound shipments of parts and materials reached 74.4 billion USD in the firstthree months of this year, up 13.3 percent from a year earlier, the news agencyquoted the Ministry of Trade, Industry and Energy as saying.
Imports of parts and materials also rose 43.6 billion USD, with the tradesurplus reaching a record high of 30.8 billion USD.
Exports of electronics parts, including memory chips, gained 24.9 percent on-yearto 31.3 billion USD, and those of petrochemical products surged 15.6 percent to12.2 billion USD.
In contrast, shipments of auto parts declined 12 percent on sluggish sales of theRoK’s vehicles in major markets, including the United States and China.
By country, exports to China, the RoK's largest trading partner, gained 18.5percent, led by electronics parts and petrochemical products. Sales in Europeand Southeast Asian nations rose 25.3 percent and 10.6 percent,respectively, Yonhap reported.-VNA
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Illustrative image (Source: businesskorea.co.kr) 
