SEOUL, Dec. 27 (Korea Bizwire) — South Korean exports will likely grow in the first three months of next year, though at a slower pace, a poll by a state-run trade promotion agency showed Wednesday.
The leading indicator for exports in the January-March period came in at 58.5, slightly down from 59.7 for the previous quarter, according to the Korea Trade-Investment Promotion Agency (KOTRA).
A reading above 50 means optimists outnumber pessimists, while a reading below that means the opposite. The latest index was based on a survey of foreign buyers and businessmen stationed overseas.
In terms of the economic conditions in major export markets, the index for Central and South America came in the highest with 74.7, while the readings for China stood at 61.6, followed by Europe with 57.6 and Japan with 58.7, it said.
By sector, exports of chips, computers and consumer goods are expected to sustain the upward trend in the first quarter, the survey predicted.
Exports for Asia’s fourth-largest economy have been on a steady rise since November 2016, led by an upturn in oil prices and recovering global trade. The total value of exports in the first 11 months of this year hit a record high of US$528.4 billion.