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South Korea increased energy imports in the first quarter

The volume of energy resources imported by South Korea in the first quarter increased, but in value terms it slightly decreased due to price stabilization, the customs office of IA RUSKOR reported.

Australia and Qatar became the largest exporters of coal and gas to South Korea.

According to the Korean Customs Service, South Korea imported 77,1 million tons of energy, including crude oil, coal and natural gas, from January to March, which is 0,7 percent more than in the same period a year earlier. Volumes are estimated at US $ 40,1 billion, which is 0,9 percent less than $ 40,5 billion a year earlier. The decline was due to the stabilization of world prices for crude oil and other energy sources, the customs office said.

The largest volume of crude oil came from Saudi Arabia, making 35,1 percent of all imports.

In terms of value, energy imports amounted to 30,3 percent of the country's total imports in the first quarter. The ratio dropped from the 31,2 percent last year. South Korea imported 30,7 million tons of crude oil in the first quarter, 2,2 percent less than a year earlier, and in price terms, imports fell 4,2 percent to $ 24,9 billion.

Coal imports amounted to 32,2 million tons, 2,7 percent more than a year earlier, and in value terms fell 4,2 percent to $ 3,2 billion.

South Korea imported a record 14,1 million tons of gas in the first quarter. In value, meanwhile, imports fell by 9,7 percent to $ 12,1 billion.

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