South Korea's Ministry of Industry and Resources said on the 9th that in the first nine months of this year, South Korea's overseas orders for equipment have more than doubled from the previous year to reach US$20.9 billion.
The Ministry of Industry and Resources stated that due to the expansion of demand for oilfield development and petrochemical equipment in oil-producing countries, good conditions have emerged for orders for complete sets of equipment this year. From all regions, orders in the traditional Korean market, the Middle East, reached US$8.1 billion, a year-on-year increase of 74%. Orders in Europe also reached US$4.4 billion, a year-on-year increase of 689%. The Americas was 3.5 billion U.S. dollars, a year-on-year increase of 534%.
From the perspective of different equipment, the amount of equipment orders for offshore oil fields was US$10 billion, an increase of 173% year-on-year. Petrochemical was US$4.1 billion, up 50% year-on-year. Power generation and fresh water were US$2.1 billion, a year-on-year increase of 21%.
In order to take advantage of this year's order situation, the Ministry of Industry and Resources has promoted the structural integration of complete sets of equipment such as engines, machinery industries, and finance, and has decided to promote and formulate a medium and long-term complete equipment industry development strategy.
The Ministry of Industry and Resources stated that due to the expansion of demand for oilfield development and petrochemical equipment in oil-producing countries, good conditions have emerged for orders for complete sets of equipment this year. From all regions, orders in the traditional Korean market, the Middle East, reached US$8.1 billion, a year-on-year increase of 74%. Orders in Europe also reached US$4.4 billion, a year-on-year increase of 689%. The Americas was 3.5 billion U.S. dollars, a year-on-year increase of 534%.
From the perspective of different equipment, the amount of equipment orders for offshore oil fields was US$10 billion, an increase of 173% year-on-year. Petrochemical was US$4.1 billion, up 50% year-on-year. Power generation and fresh water were US$2.1 billion, a year-on-year increase of 21%.
In order to take advantage of this year's order situation, the Ministry of Industry and Resources has promoted the structural integration of complete sets of equipment such as engines, machinery industries, and finance, and has decided to promote and formulate a medium and long-term complete equipment industry development strategy.
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