The Ministry of Trade, Industry and Energy has released its parts and materials industry trade figures for the first quarter of 2013.
Korea posted a $23.2 billion trade surplus for that sector, marking the eighth consecutive quarter with a surplus over $20 billion.
Despite unfavorable economic conditions, including a weaker Japanese yen, exports in the parts and materials industry grew by a brisk 5.2 percent year on year. The recovery was led by solid performances in electronic components, electrical machine parts and transportation machine parts.
Exports of nonmetallic minerals were boosted by strong demand from LCD panel manufacturers. Due to weaker demand in the global market, outbound shipments fell in basic metals, rubber and plastic materials and textiles.
With most trading partners, the nation’s trade balance maintained a surplus. Meanwhile, imports in the parts and materials industry increased 1.2 percent from a year earlier to $40.4 billion.
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