S. Korean ex­port de­cline seen slow­ing

The Sun (Malaysia) - - SUNBIZ -

SEOUL: South Korea’s ex­ports are fore­cast to fall more slowly as im­prov­ing ship­ments of elec­tron­ics curb re­cent de­clines, the cen­tral bank said in a reg­u­lar re­port yes­ter­day.

Based on a sur­vey of about 250 ex­porters across the coun­try, the Bank of Korea (BoK) re­port as­sessed that ship­ments will im­prove across the IT, petro­chem­i­cal, and oil re­fin­ery sec­tors in 2017, which will help off­set de­clines in ex­ports, which have fallen for most of the past two years.

While can­cel­la­tion of Galaxy Note 7 from Sam­sung Elec­tron­ics and strikes at Hyundai Motor have dented ship­ments from Asia’s fourth largest econ­omy, the BoK said that man­u­fac­tur­ing in gen­eral is fore­cast to im­prove.

Do­mes­tic de­mand will see a pick-up over the com­ing months, the bank added. – Reuters

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