The Korea Herald

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Korea’s exports to stay weak in Q2: poll

By Korea Herald

Published : April 16, 2012 - 14:01

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South Korea’s exports are expected to remain in the doldrums in the second quarter of the year on global jitters stemming from the eurozone debt crisis, a poll showed Monday.

The leading indicator index for exports came in at 51.7 for the April-June period, up a mere 0.1 point from three months earlier, according to the survey taken jointly by the Korea Trade-Investment Promotion Agency and Samsung Economic Research Institute.

The survey was conducted on 2,156 foreign buyers of South Korean products. A reading above 50 means robust overseas shipments compared to the previous quarter, while a number below 50 means worsening conditions.

According to the findings, exports to advanced nations are predicted to remain sluggish in the current quarter, while overseas shipments to emerging markets are likely to stay strong.

The index for Europe, which is reeling from a crippling debt crisis, tumbled to an all-time low of 46.3, with the figure for Japan also dropping 1.7 points to 49.1.

The index for North America stood at 54.7 for the current quarter, down 5.1 points from the previous quarter.

In contrast, the leading indicator index for exports to China, the top importer of South Korean products, rose 4.5 points to 54.1 for the April-June period, with the number for Central and Latin American countries surging 9.7 points to 57.9, according to the survey. 

(Yonhap News)