Success partner for your global takeoff,
The Global Network of Korea Eximbank.

How to enlarge/reduce the letter size

Enlarge the screen : Please press and hold ctrl key and press + key additionally to enlarge it. Shrink the screen : Please press and hold ctrl key and press - key additionally to reduce it.

E-Mail this

Did you find useful information at KEXIM?
Recommend the information you see now to anyone you want to share with.
After entering the following details, you can share contents by clicking "SEND"

@
@
EXIM

Korea Exim News

Forecasts of Lower Export Growth Rate of 23% in 3Q

Date 2010.07.22 View 29231
□ On July 5, the Overseas Economic Research Institute of Korea Eximbank (www.koreaexim.go.kr) forecast an export growth rate of 23% in the third quarter of 2010 due to slowdowns in the recovery of export markets.

□ In the "2010 3Q Exports Forecast" released on the same day, Korea Eximbank anticipated a slightly lower export growth rate from the previous quarter due to the slowdown in economic recoveries of major export partners such as the US and China, reduced price competitiveness, and a lower base effect.

○ Korea Eximbank reported, "The export leading index, a criterion for assessing the outlook for exports, has increased consecutively for 5 quarters (0.2% increase over the previous quarter). However, the rate of increase has slowed in the composite leading indicators in America, Europe, and China and price competitiveness has gradually worsened due to the recent rise in the value of the won. The year on year export growth rate will continue to be positive at above 20% but is predicted to be lower than that of the previous quarter which was 34%."


※The export leading index takes into account all the variables which can affect Korea's export performance such as the economies of Korea's major export partners, export unit prices, price competitiveness, exports forecasts of each industry, export forecasts of individual corporations, etc.

○ The export business forecast index, which reflects the views of businesses about export conditions, recorded 117, lower than 123 of the previous quarter. The slightly reduced index value also indicates the prevailing sentiment among businesses that the rate of recovery in exports will slow.

□ According to a representative of Korea Eximbank, "The Bank will actively take actions in response to the slowdown in the export recovery rate and will continue to promote exports by expanding support for large-scale projects in new growth industries such as nuclear power and high speed railroads."