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South Korea exports rise beyond market forecast

south-korea-flagSEOUL: South Korea's exports expanded for a second straight month in November, picking up pace well beyond market expectations, government data showed Saturday.

 

Exports grew 3.9% on-year to $47.80 billion in November as imports rose 0.7% on-year to $43.32 billion, leaving a $4.48 billion trade surplus, the Ministry of Knowledge Economy said.

 

In October, exports posted a revised 1.1% rise after three months of contraction as imports registered a revised 1.7% gain on-year in the same month.

 

The November export reading was well above the median forecast of 2.6% rise, based on a Dow Jones Newswires survey of nine experts.

 

But the imports reading was below the median forecast of a 1.3% gain in the same survey. The poll had forecast a $3.4 billion trade surplus.

 

Copyright AFP (Agence France-Presse), 2012