S.Korea's exports of industrial parts, materials hit record high in 2017

SEOUL, Jan. 18 (Xinhua) -- South Korea's exports of industrial parts and materials hit a fresh record high last year, sending the trade surplus in the sector to the biggest-ever recorded by the economy, a government report showed Thursday.

Exports of industrial components and materials amounted to 282.1 billion U.S. dollars in 2017, up 12 percent from the previous year, according to the Ministry of Trade, Industry and Energy.

It accounted for nearly half of the country's total exports of 573.9 billion dollars tallied in 2017.

Imports in the parts and materials sector gained 10.3 percent to 168.3 billion dollars, sending the 2017 trade surplus in the sector to the record yearly high of 113.8 billion dollars.

The sector's trade surplus topped last year's trade surplus in all industries at 95.3 billion dollars.

During the October-December quarter, the parts and materials exports advanced 10.9 percent over the year to 73.4 billion dollars. Imports rose 8 percent to 42.8 billion dollars, sending the trade surplus in the sector to 30.6 billion dollars. Enditem