Petroleum products largest export item for South Korea

Higher prices and growing demand overseas has resulted in an 11.1 % gain year-on-year in August for gasoline, diesel fuel and other petroleum products. South Korea exported 39.41 million barrels of petroleum products in August, compared with 35.48 million barrels shipped out of the country in the same month last year. The Ministry of Knowledge Economy said, “Petroleum products became the country’s single largest export item for the sixth consecutive month since March, surpassing semiconductors and automobiles. The value of exports jumped by 57.35% year-on-year, amounting to US$4.66 billion. (September 29, 2011)