November 02, 2012 09:52
Korea's exports rebounded for the first time in four months. Exports grew to US$47.2 billion in October, up 1.2 percent on-year, according to the Ministry of Knowledge Economy on Thursday.
Exports had dwindled since July. Imports rose 1.5 percent in October on-year to $43.4 billion, resulting in a trade surplus of $3.8 billion.
The export increase came thanks to burgeoning shipments of petrochemical products and IT appliances.
Exports to ASEAN grew the most at 21 percent, and to China by 5.7 percent amid hopes that its economy is back to solid growth, the ministry said. In contrast, exports to Latin America and the U.S. fell 8.2 percent and 3.5 percent.
It is uncertain whether exports can continue to grow. A bumpy road may lie ahead for semiconductor chips, iron and steel products, automobiles and textiles as the won continues to strengthen.
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