S.Korea's import value surges 39 pc in October on expensive crude oil

South Korea's import value surged last month on expensive crude oil, central bank data showed Wednesday.

Seoul [South Korea], November 24 (ANI/Xinhua): South Korea's import value surged last month on expensive crude oil, central bank data showed Wednesday. The import value index stood at 150.27 in October, up 39.0 per cent from a year ago, according to the Bank of Korea (BOK).

It has continued to grow for 11 straight months since December last year due to a higher price for global crude oil. The import value for coal and oil products spiked 213.1 per cent in October from a year earlier, marking the highest increase since November 1990.

The import volume index gained 7.1 per cent from a year earlier to 123.92 in October, keeping an upward trend for 14 months in a row. In terms of volume, the import for coal and oil products jumped 81.0 per cent last month, and those for the primary metal products and the machinery and equipment expanded in double figures.

The export value index soared 25.2 per cent over the year to 133.92 in October, continuing to rise for 12 months on the back of strong demand for locally-made semiconductors and the recovery in global demand. The export volume index went up 3.4 per cent to 121.02 in October, after sliding 2.4 per cent in September. (ANI/Xinhua)

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