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South Korea's petrochemical exports fell in November

 Last Update: 2022-12-29
 Source: Internet
 Author: User

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South Korea's petrochemical exports fell 26.
5% year-on-year to US$3.
55 billion
in November, according to data recently released by South Korea's Ministry of Trade, Industry and Energy.

The weakening of overall demand in the Chinese market and the disruption of logistics due to the nationwide truck drivers' strike in South Korea in late the month were the main reasons for the
weakening of South Korea's petrochemical exports.
Among them, the strike of the Korean truck drivers' union has had a negative impact on various industries, including petrochemicals, threatening the prospects
of South Korea's economic growth.
According to South Korean government estimates, the economic loss of the strike is 300 billion won
per day.

South Korea's exports totaled $51.
9 billion in November, down 14 percent year-on-year, a bigger drop from 5.
7 percent in the previous month and the biggest drop since May 2020, according to the Ministry of Trade
, Industry and Energy.
Of South Korea's 15 main export industries, only four saw year-on-year growth in November, official data showed, namely automobiles, auto parts, lithium batteries and petroleum products
.

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