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SOUTH KOREA'S 2003 EXPORTS HIT ALL-TIME HIGH.
SEOUL, Jan. 1 Asia Pulse - Helped by shipments of cars, petrochemicals and electronic products, South Korea exported a record US$194.33 billion worth of goods last year, officials said Thursday.
Provisional figures compiled by the Ministry of Commerce, Industry and Energy showed that the 2003 exports were 19.6 per cent up from the previous record of US$172 billion in 2000.
Imports also rose by 17.5 per cent to a record US$178.78 billion on a customs clearance basis but was still low enough to help South Korea record a trade surplus of US$15.54 billion, up nearly 50 per cent from a year ago, ministry officials said.
The 2003 exports and trade surplus both far exceeded the government's original target of $175 billion and $8 billion, respectively.
Officials attributed the spectacular performance to the booming Chinese market which gobbled up South Korean shipments of mobile phones, semiconductors, petrochemicals and cars.
For the first time, ...
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Source: HighBeam Research, SOUTH KOREA'S 2003 EXPORTS HIT ALL-TIME HIGH.