| S. Korea's machine tool exports rise to record high in 2011 |
| Last Updated(Beijing Time):2012-02-01 03:15 |
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South Korea's exports of machine tools hit a record high last year on steady overseas demand, an industry report showed Tuesday.
According to a report by the Korea Machine Tool Manufacturers' Association, the country's machine tool exports surged 37.2 percent on-year to reach a record high of 2.31 billion U.S. dollars last year.
It marked the first time that the country's machine tool exports have exceeded the 2 billion U.S. dollars mark, breaking the previous record of 1.91 billion U.S. dollars reported in 2008, the report said.
The association attributed the export growth to steady demand from China, the largest buyer of South Korean machine tools, and rising demand from emerging markets like India and Brazil.
Machine tool exports to Brazil posted the strongest increase with 342 percent, according to the report. |
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