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South Korea’s export growth is likely to rise in the fourth quarter led by the semiconductor and petrochemical sectors, while automakers and steelmakers may suffer, the state-run Korea Trade-Investment Promotion Agency said Thursday.
According to the survey conducted by KOTRA on 2,142 trading company officials last month, South Korea’s leading export index for the October-December period came to 52.1 points, up 0.8 from the previous quarter.
A reading above 50 translates into more exports, while numbers that fall short of this mark indicate a contraction. Semiconductor, petrochemical and home appliance manufacturers expected increased outbound shipments, while the wireless communication sector lost 1.8 points with concerns over rising competition with Chinese rivals in low-end handsets.
Automakers and steelmakers were forecast to see decreased overseas sales due to the global supply glut and tougher regulations.
The respondents expected more sales in North America, China and Europe in the fourth quarter but remained negative over Japan and South America.
“The economic slowdown in the advanced countries and rising geopolitical risks in the Middle East may hamper exports, coupled with the won’s stronger value compared to its global peers,” KOTRA said. (Yonhap)
According to the survey conducted by KOTRA on 2,142 trading company officials last month, South Korea’s leading export index for the October-December period came to 52.1 points, up 0.8 from the previous quarter.
A reading above 50 translates into more exports, while numbers that fall short of this mark indicate a contraction. Semiconductor, petrochemical and home appliance manufacturers expected increased outbound shipments, while the wireless communication sector lost 1.8 points with concerns over rising competition with Chinese rivals in low-end handsets.
Automakers and steelmakers were forecast to see decreased overseas sales due to the global supply glut and tougher regulations.
The respondents expected more sales in North America, China and Europe in the fourth quarter but remained negative over Japan and South America.
“The economic slowdown in the advanced countries and rising geopolitical risks in the Middle East may hamper exports, coupled with the won’s stronger value compared to its global peers,” KOTRA said. (Yonhap)
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Articles by Korea Herald
