[THE INVESTOR] Korea’s exports will show small improvement in the second half of the year, the Institute for International Trade projected in a report released on June 22.
In the report, IIT projected that Korea’s exports will come in at US$260.5 billion in the second half of the year, up 0.9 percent from the same period last year.
The IIT cited developed nations’ economic recovery, rising oil prices and improving demand from emerging economies for the projection.
The IIT forecast that crude oil will reach between US$45 and US$50 per barrel during the second half of the year.
By items, IIT projected that machinery, semiconductors, displays and petrochemicals will see exports rise, while ships, oil products, mobile telecommunications devices and automobiles will continue to struggle.
The report, however, said that negative elements will remain in the final six months of the year saying that increasing competition with emerging economies and international trade issue could hold the country back.
For the year as a whole, the IIT projected a drop of 4.7 percent in exports and 7 percent in imports, bringing the total trade to about US$908 billion.
By Choi He-suk (
cheesuk@heraldcorp.com)
