ID :
195179
Fri, 07/15/2011 - 09:54
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https://oananews.org//node/195179
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S. Korea's H1 trade volume hits record high: customs data
SEOUL, July 15 (Yonhap) -- South Korea's trade volume hit a record high during the first half of this year as exports expanded at a fast pace amid improving economic conditions, official customs data showed Friday.
According to the data by the Korea Customs Service, the nation's trade volume amounted to US$532.9 billion during the January-June period. That exceeded the previous first-half export and import record of $434.8 billion in 2008.
Exports came to $274.8 billion, up 24.2 percent from a year earlier, while imports grew 26.6 percent to $258.1 billion over the same period, the data showed.
The customs office expected that the current pace of trade growth will continue in the second half, with this year's overall export and import volume to reach around $1.1 trillion.
Outbound shipment growth during the first half was driven mostly by refined oil products whose overseas shipments surged 71.1 percent. Exports of ships, steel products and cars rose 30.9 percent, 30.7 percent and 30 percent, respectively, from a year earlier, the data showed.
China remained South Korea's largest export destination.
Exports bound for the neighboring country amounted to $64.4 billion during the first half, while those for the United States and Japan totaled $27.9 billion and $19 billion, according to the data.
According to the data by the Korea Customs Service, the nation's trade volume amounted to US$532.9 billion during the January-June period. That exceeded the previous first-half export and import record of $434.8 billion in 2008.
Exports came to $274.8 billion, up 24.2 percent from a year earlier, while imports grew 26.6 percent to $258.1 billion over the same period, the data showed.
The customs office expected that the current pace of trade growth will continue in the second half, with this year's overall export and import volume to reach around $1.1 trillion.
Outbound shipment growth during the first half was driven mostly by refined oil products whose overseas shipments surged 71.1 percent. Exports of ships, steel products and cars rose 30.9 percent, 30.7 percent and 30 percent, respectively, from a year earlier, the data showed.
China remained South Korea's largest export destination.
Exports bound for the neighboring country amounted to $64.4 billion during the first half, while those for the United States and Japan totaled $27.9 billion and $19 billion, according to the data.
