TEHRAN — The volume of Iran-South Korea trade ties hit $5.6 billion in 2005, increasing by 20 percent compared with previous year, said a report released by the Korea International Trade Association (KITA).

Iran’s export to the South Korea stood at $3.5 billion in 2005, while the country has imported $2.1 billion cargos from the South Korea.

In the same year, the trade balance of Iran and South Korea was registered at $1.4 billion in favor of the Islamic Republic.

Moreover, the volume of Iran’s oil export to the South Korea has been over 70 billion barrels, that is equal to $3.2 billion. As far as the whole trade exchanges between the two countries are concerned, the oil sector constitutes 95 percent of the exchanges.

According to the report, Iran’s non-oil exports to that country stood at $375 million in the last year, which indicates a 20 percent growth compared with 2004.

The statistics show that the whole volume of Iran’s oil and non-oil exports to South Korea has grown by 45 percent in 2005, while the volume of South Korea’s export to the Islamic Republic has increased only by 3 percent.

Oil, gas, cathode, zinc ore, concentrates, pistachios, fruits, and juices have been the most important commodities exported by Iran.

The spare parts for automobiles, home appliances, parts of the boilers and steam generator, computers, and electric appliances have been the cargos imported from South Korea. FK/MA END MNA