Refined petroleum products lead South Korea’s exports

According to a report by the Korea Petroleum Association (KPA), refined petroleum products led South Korea’s exports in the first half of this year due to higher prices. Refined petroleum products accounted for 9.9% of all outbound shipments. KPA said exports of petroleum products reached US$27.28 billion in the first half of the year, up by 11.5% from last year. The KPA said 85.9% of all the products exported were high value-added products, which included gasoline, diesel, kerosene, jet fuel and naphtha. The largest market for South Korea’s refined petroleum products was China, followed by Japan, Singapore, Indonesia and Australia. Exports of autos reached US$25.01 billion, a 15.7% increase from a year earlier. (July 9, 2012)