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In a report on Sunday, the Korea International Trade Association said 60.5 percent of surveyed companies said their exports would fall this year. The survey was conducted at the end of last year of 802 Korean firms with exports of at least $500,000.

Some 20.9 percent expected a 10-20-point drop in their exports, while 17.9 percent predicted exports will drop less than 10 points, and 13.8 percent between 20 and 30 points. Some 56 percent said export volume and unit price would also decrease.

But 30.8 percent of surveyed firms expected an increase in total export earnings.

Shrinking demand due to the recession was named as a reason by 61 percent of respondents, unpredictability due to the unstable exchange rate by 16.7 percent, an increase in raw materials price by 10 percent, and cash flow trouble by 5.6 percent.

(englishnews@chosun.com )