South Korea's exports up 20 percent

South Korean exports in September posted solid growth thanks to firmer fuel and chemicals prices, but the softening global economy is widely expected to drag on overseas sales by Asia's fourth-largest economy in the coming months. Overseas shipments by South Korea, the world's seventh-largest exporter, rose 19.6 percent in September from a year earlier to reach $47.1 billion, while imports grew 30.5 percent to $45.7 billion, producing a surplus of $1.4 billion.
The robust figures for the whole of last month, released by the Ministry of Knowledge Economy, were the first from any major exporting economy. They suggest global demand did not ease as quickly as some investors had feared in recent weeks. Analysts said South Korean exports would not suffer as severe a decline as that seen at the height of the 2008-2009 global financial crisis, but would experience a considerable slowdown over the coming months.