ULSAN < invest Korea

Ulsan Main Customs announced today that Ulsan recorded a trade surplus of USD 600 million in August as of customs clearance.

Ulsan’s exports in August stood at USD 7.07 billion, showing a 2.0 percent decrease year-on-year.

Imports also dropped by 13.8 percent to reach USD 6.47 billion.

Exports of automobiles and steel and chemical products increased whereas those of oil products and ships decreased.

Fuel oil and steel product imports rose, however imports of crude oil were reduced.

Ulsan’s exports are showing signs of improvement despite continued deterioration of external circumstances, according to the Ulsan Main Customs. It also forecast that imports of raw materials will drop due to economic slowdown.

Accumulated exports and imports from January to August reached USD 60.08 billion and USD 58.08 billion, respectively, leading to a trade surplus of USD 2 billion.

** This article was translated from the Korean.