Korea’s exports are projected to improve in the second half of this year, despite the poor performances of the semiconductor and shipbuilding industries, data showed Thursday.
According to the Korea Institute for Economics & Trade’s report, the amount of exports will recover in the second half of this year and reach an increase rate of minus 1.3 percent compared to last year. Exports in the first half plummeted by 10.8 percent on-year.
The overall export increase rate is projected to record minus 6.1 percent this year, amounting to $494 billion of yearly exports.
By industry, the export increase rate of displays is likely to jump from minus 24.4 percent to 5.9 percent later this year, while general machinery should improve from minus 8.6 percent to 4.1 percent and steel from minus 12.4 percent to 2.5 percent.
