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South Korea Crude Imports Rise 0.3% in September, Ministry Says

Oct. 1 (Bloomberg) -- South Korea, Asia’s fourth-largest economy, increased oil imports in September by 0.3 percent from a year earlier.

The country, which buys all its crude from overseas, purchased 80.8 million barrels last month, the Ministry of Knowledge Economy said in an e-mailed statement today, citing preliminary estimates. That’s up from 80.55 million a year ago.

The country’s bill for imports rose 2.7 percent to $9.1 billion as prices based on Middle East benchmark Dubai crude gained 5.1 percent to $111.2 a barrel, the ministry said.

The country’s natural-gas import bill decreased 18.8 percent to $2.6 billion in September while costs for coal purchases fell 34 percent to $1.3 billion, according to the ministry.

To contact the reporters on this story: Cynthia Kim in Seoul at ckim170@bloomberg.net; Sangim Han in Seoul at sihan@bloomberg.net

To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net

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