Automobile and Major Items Mark Half Korea's Total Exports in 2004

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Automobile and Major Items Mark Half Korea's Total Exports in 2004

 

February 4, 2005


Automobiles made up the largest portion of the nation's exports last year, while crude oil topped the list of import items, according to the tally on the exports and imports for 2004 compiled by the Korea Customs Service.

Ten items carve out 49.7 percent of the entire exports. Car exports reached $24.6 billion, accounting for 9.7 percent of the nation's total exports, $253.9 billion, followed by semiconductors ($20.5 billion), cellular phones ($20.3 billion) and ships ($12.2 billion). Six other leading export items are computer peripherals, computers, oil products, cell phone parts, and component of automobiles and television sets.

Car exports more than doubled the $11.9 billion posted in 2000 and cell phone exports more than tripled $630 billion posted in 2000. Semiconductors recovered a trade surplus status in four years since 2000.

Korea paid $30 billion for crude oil imports, the largest bill as a single import item. The other major import items are semiconductors, gas, oil products, sideline machinery, coal and other solid fuel sources, non-alloyed metal products, gold, computers and scrap iron.

China was the largest importer of Korean products. It purchased $49.8 billion of merchandise, replacing the United States ($42.8 billion), the long-time big purchaser of Korean products. Japan was the largest exporter among countries exporting to Korea, selling $46.1 billion in goods.

 

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