SEOUL : South Korean exports likely grew for a 14th straight month in December on year-end holiday demand for chips and petrochemical goods, while inflation is expected to remain near a decade high, a Reuters poll showed on Tuesday.
December exports in terms of value were seen expanding 22per cent from a year earlier, slowing from a 32per cent jump in November, according to the median forecast of 13 analysts.
“December shipments are expected to exceed US$60 billion in value as demand is strong even as chip prices are declining, and petrochemical products are also enjoying record demand,” said Ye-in Kim, an analyst at Korea Investment & Securities.
The nation’s trade ministry said on Dec. 13 annual overseas shipments had reached a record high as of early December this year, supporting an economy that has relied on exports to underpin growth as social-distancing curbs to combat COVID-19 hurt domestic demand.
Tuesday’s poll showed…
