Less than half of South Korean exporters predicted their overseas shipments will expand in 2012 amid lingering concerns of global economic slowdown, a survey showed Monday.
According to a survey conducted by the Korea Chamber of Commerce and Industries, 44.2 percent of 502 exporting companies said next year’s business will exceed figures for this year.
The poll also showed 43.8 percent expected exports to remain unchanged from this year, while 12 percent expected a decrease in sales in foreign markets.
The KCCI’s survey conducted last year showed 49.8 percent of companies having an optimistic export outlook for 2011, and 39.2 percent saying their exports would remained about the same. Only 11 percent were pessimistic about their export growth.
By industry, 56 percent of petrochemical and energy firms expected a growth in exports in the new year, and 50 percent of electronics companies said they could remain in positive growth territory. Machinery, auto parts, and steel industries, however, said they did not expect an increase in shipments.
The KCCI said that the growth rate of exports is forecast to drop to around 10 percent in the coming year, less than half of this year’s growth, due to a contracted demand in large overseas markets and tougher competition.
The survey said that the South Korean exporters expected the Korean won to hover at an average of 1,116 won against the U.S. dollar next year.
(Yonhap News)
