Korea's Fiber Exports Slump 20.8% In February

Korea's import and export related information in February this year is listed below.

First, The Republic of Korea The Ministry of industry and Commerce Resources announced the "import and export trend of February" (provisional value for from February 1st to 28th) in 2015. The export volume of South Korea in February this year is about 41 billion 456 million US dollars, which is 3.4% less than that in the same period (2014), and the import amount is about 33 billion 799 million US dollars, a significant decrease of 19.6% compared with the same month last year. Balance of trade surplus About $7 billion 658 million, a record high in 37 months.

Two. In February, the 13 major export items (provisional value in from February 1st to 28th) increased 127.2%, 6.9% and 5.1%, respectively, including steel products, general machinery, wireless communication machines, plane display devices, automobile parts, automobiles, and so on. fibre Household appliances, petrochemicals and petroleum products declined 4.1%, 5%, 6.4%, 13%, 14.4%, 16.3%, 20.8%, 23.3%, 24.2 and 44.1% respectively.

Major export areas (Statistics in from February 1st to 20th): 20.3% growth in the US, 18.7% in Oceania, 13.6% in the Middle East, 0.8% in the central and South America, 0.8% in the mainland, 7.4% in Japan, 17.5% in Japan, 21.8% in ASEAN and 24.1% in EU.

Related links:

China and ROK completed the initials of all the Sino Korean FTA agreements and confirmed the contents of the agreement. So far, the Sino Korean FTA negotiations have been completed. Reporters learned that after the implementation of the agreement, most textile and garment products will enjoy zero tariff treatment, which will save Nantong textile and garment export enterprises an annual tariff of about 40 million dollars.

After reaching the FTA agreement, after the longest 20 years of transition, the products of China's zero tariff will reach 91% of the tax items and 85% of the imports. The products of zero tariff will reach 92% of the tax items and 91% of the imports, which will greatly promote the export of the two countries.

Within the framework of the Asia Pacific Free Trade Agreement, the textile and clothing products exported to Korea can enjoy an average tariff reduction of 25%, which will reduce the tariff rate of importing countries by about 9 million 980 thousand dollars for textile and garment enterprises in Nantong. After the implementation of the Sino Korean FTA agreement, most textile and clothing products exported to South Korea will enjoy zero tariff treatment.