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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


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Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.197 bln
Exports $1.729 bln
Imports $3.926 bln
WeeklyNovember 30, 2015
Reserves $19.828 bln