South Korea's petrochemicals exports to reach all-time high in 2016 amid rising export demand

10-Jan-17

South Korea's petrochemicals exports are estimated to have reached an all-time high in 2016 largely due to a rise in demand in their biggest export destination, China and other newly emerged markets of Southeast Asian countries, as per industry data in Yonhap. Exports of petrochemicals to China, have been on a decline because of a slowdown in the world economy and the country's increased self-supply of petrochemicals.
Exports of petrochemicals produced by South Korea's four oil refiners are estimated to have amounted to 490 mln barrels, surpassing the previous record high of 477 mln barrels seen in 2015. The exports include gasoline, diesel, naphta, LPG and other oil-related products.