[Iclickart]
South Korean exporters issued a positive outlook Monday on their activity next year despite global uncertainties such as US trade protectionism, a possible interest rate hike and Brexit.
The Korea International Trade Association (KITA) predicted exporters would grow 3.9 percent on-year to 516 billion US dollars in 2017. This year's total shipments were projected at $497 billion, down 5.6 percent from a year earlier. Exports, the country's main growth engine, fell 8.0 percent on-year to $568 billion last year.
KITA chairman Kim In-ho said South Korean exports would be in a positive territory next year after a two-year setback, thanks to an economic recovery in emerging markets and high oil prices.
Kim, however, cautioned that South Korea should watch negative factors such as protectionism pushed by next US president Donald Trump, a US rate increase, China's corporate restructuring, and Brexit.
Petrochemical products and displays will lead overall shipments next year but exports of auto parts and ships will see a continued drop, he said.
Aju News Lim Chang-won = cwlim34@ajunews.com
Copyright ⓒ Aju Press All rights reserved.