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Export of Materials, Parts, Equipment Hit Decade-High

Written: 2021-09-08 15:19:27Updated: 2021-09-08 15:43:44

Export of Materials, Parts, Equipment Hit Decade-High

Photo : YONHAP News

South Korea's export of materials, parts and equipment in the first seven months of the year has reached a fresh high in ten years, according to data from a new ministry portal. 

According to the Ministry of Trade, Industry and Energy's newly-launched website on the said industries, export of materials, parts and equipment from January to July jumped by 23 percent on-year to well over 200 billion dollars.

Imports during the same period also rose 25 percent to over 140 billion, resulting in a surplus of 62-point-seven billion dollars.

However, a trade deficit with Japan widened during the first seven months mainly due to increased imports for expanded facility investment at home.

The ministry explained that trade figures with Japan in materials and components are improving by the year, noting a record low dependence rate of 15-point-eight percent in the January to July period.

The ministry's new portal "sobujang.net", where the data is published, is a revamped expansion of a previous site. It provides information on related statistics, technologies and companies, and the policy measures of different agencies.

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