South Korean exports are expected to remain solid in the fourth quarter despite a slowdown in the pace of growth, the country's trade promotion agency said Wednesday.
The leading export index for the October-December quarter stood at 59.7, slowing down from 63.9 in the previous quarter, the Korea Trade-Investment Promotion Agency said in a statement.
Korea Trade-Investment Promotion Agency (Yonhap)
"KOTRA's leading export index declined as Japanese steel and Chinese petrochemicals buyers plan to reduce their import volumes from South Korea in the fourth quarter," the statement said.
The KOTRA leading export index exceeding the benchmark 50 indicates market observers expect exports to grow, while the index below 50 shows they expect shipments to fall, a KOTRA spokesman said.
The survey is based on a poll conducted on 2,206 foreign buyers and overseas branches of Korean trading firms from Aug. 28 to Sept. 12, it said.
Still, the fourth-quarter export index rose from 51.5 a year earlier, helped by strong global demand for semiconductors and electro-electronic products, the spokesman said. (Yonhap)