South Korea's petrochemical exports reach impressive growth in August

Official data showed on Wednesday, that South Korea's petrochemical exports hit a record-high of 81.5% year on year in August, at the same time maintaining the overall increase in shipments abroad.

The country's total exports have increased by 34.9% year on year to $53.2 billion in August, significantly accelerating from the 29.6% in July, The Ministry of Trade, Industry and Energy (MOTIE) said in the report.

The growth in overall exports has been observed for ten consecutive months.

Imports surged by 44.0% year on year to $ 51.6 billion in August, faster than the 38% growth in July this year.

Semiconductors and vehicles exports from South Korea jumped to 43.0% and 16.9% year-on-year in August, respectively.

The main consumers of Korean exports are China, the United States and the EU, the total volume of exports to these regions increased by 26.8%, 38.1% and 41.6%, respectively.