Another indication of a very strong Semi Equipment market from the following dj Newswire release.
Ian.
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S Korea's Monthly Trade Surplus Seen $2-$3B After Oct
SEOUL -- South Korea's monthly trade surplus is expected to reach between $2 billion to $3 billion after October on continued brisk shipments of key items such as semiconductors as well as the strong yen, the Ministry of Commerce, Industry and Energy said Friday in a preliminary report.
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Meanwhile, the ministry confirmed its earlier announcement that South Korea's preliminary trade surplus narrowed to $1.86 billion in September from $3.5 billion in the same month a year earlier.
The country's trade surplus during the first nine months of this year reached $17.25 billion, down from $28.93 billion during the same period a year earlier, the ministry said.
According to the preliminary report, customs-cleared exports rose 11.8% on year in September to $12.01 billion on strong semiconductor exports and on the rise in crude-oil prices, which drove up prices of petrochemical-product prices, the ministry said. The 11.8% increase in exports in September marked the fifth consecutive monthly rise.
During the first 20 days of September, South Korea's exports of heavy-chemical products climbed 41% on year to $5.48 billion, the ministry said. Shipments of petrochemical products rose 33% year-on-year last month, shipments of semiconductors were up 15%, and auto shipments rose 35% and those of computers surged 133%, it said.
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During the first 20 days of September, imports of raw materials climbed 41% to $3.53 billion, those of capital goods surged 62% to $2.86 billion and consumer-goods imports climbed 60% to $784 million, the ministry said.
Among individual items, imports of precision machinery were up 123% during the first 20 days of September, those of semiconductor-equipment surged 389%, imports of autos increased 426%, those of color TVs rose 749% and imports of meat products were up 88%, the ministry said.
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The commerce ministry expects South Korea's 1999 trade surplus to reach about $25 billion, down from $39.88 billion last year.
-By Park Kyung-hee;
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