Korea: Exports rebound in October
November 15, 2013
According to preliminary data, in October, Korean exports registered USD 50.5 billion, which marked a 7.2% expansion compared to the same month last year and contrasted the revised 1.6% contraction observed in September (previously reported: -1.5% year-on-year). The reading represented the fastest expansion since August.
Meanwhile, imports rose 5.2% in October, which contrasted the 3.6% fall in September. The trade balance showed a USD 4.9 billion surplus in September, which was up from the USD 3.7 billion surplus tallied in the same month last year.
FocusEconomics Consensus Forecast panelists expect exports to expand 4.0% in 2013 and accelerate to 10.7% in 2014.
Author: Ricardo Aceves, Senior Economist