Saturday, March 11, 2017

WHO NEW RISING OIL PRICES CAN RAISE EXPORTS - AS AN EXAMPLE S KOREA EXPORT GROWS 20% UNDER THE USA POTUS TRUMP - AS PETROCHEMICAL DERIVED FROM OIL GETS SOLD AT A HIGH PROFIT COST

South Korea's exports jumped 19.3 percent on-year in the first 10 days of this month led by petrochemical goods, semiconductors and automobiles, government data showed Saturday.

Overseas shipments from March 1-10 were estimated at US$1.43 million after hitting a five-year high in the previous month, the Korea Customs Service said in a statement.

"Rising oil prices in recent months have boosted local exporters who had been suffering from slumping oil prices and slowing demand in global markets," a KCS spokesman said.

Exports of petrochemical goods soared 109.7 percent in the 10 days from the same period of 2016, it said.

Oil price hikes allowed domestic petrochemical companies to sell their products at higher prices and boosted demand in oil-producing countries, helping stimulate the global economy.

http://www.koreaherald.com/view.php?ud=20170311000057

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