Korea’s exports expected to maintain recovery momentum in 2017

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Korea’s exports expected to maintain recovery momentum in 2017

The past two years have not been kind to Korean exporters. And with a slew of uncertainties ahead,…. including the possibility of greater trade protectionsim from the U.S.,… there could be more battles ahead. For more on what exporters should brace for,… let’s turn to our Kim Min-ji. Korea’s exports have had a rough time of late. For the first time in 58 years,… outbound shipments fell for two years in a row — mainly due to weak global demand — but also strikes in the nation’s auto industry and the termination of Samsung’s Note 7 phablet.

But looking at the monthly breakdown,… exports have made a turnaround since November — the first time in over two years they’ve posted positive growth for two straight months. And that trend has continued into January — with exports jumping nearly 38 percent on year… in the first ten days of the month. Experts say Korea needs
Although it’s partly due to more working days… and exports being so low a year ago,… turnaround since November -- the
most analysts are cautiously optimistic. “The global economy for the most part is expected to pick up this year compared to 2016. Global oil prices are gradually rising and export unit prices are improving. Foreign exchange conditions are also giving Korea better price competitiveness.” But under the Trump administration in the U.S.,… there are fears of increased protectionism.

Trump has said the U.S. will impose higher tariffs on goods from China and Mexico — and this will have ripple effects on Korea, which exports some of its products through those markets. Also, Seoul’s decision to deploy the U.S. THAAD missile defense system has been met with apparent retaliation from China in terms of trade.

Already, Korean cosmetics are facing more scrutiny,… and more pressure from Beijing would take a toll on local exporters, as China accounts for roughly a quarter of Korea’s total exports. Experts say the government will need to keep a close eye on protectionism and non-tariff barriers… and cooperate with other countries to counter these measures. But, in the longer run, they say that’s not enough. “Companies need to step up investment to come up with new innovative products to export, as well as take advantage of niche markets. On the government level, they need to identify obstacles that hinder companies’ performance and make better use of FTAs.” Some say Korea is stuck between a rock and a hard place. It hasn’t caught up with the technology of advanced countries like Japan or Germany,… and it can’t compete with countries like China in terms of price.

Experts say Korea needs to stay on track and keep working its way up.

Korea’s exports expected to maintain recovery momentum in 2017

The past two years have not been kind to Korean exporters. And with a slew of uncertainties ahead,…. including the possibility of greater trade protectionsim from the U.S.,… there could be more battles ahead. For more on what exporters should brace for,…

in terms

let’s turn to our Kim Min-ji. Korea’s exports have had a rough time of late. For the first time in 58 years,… outbound shipments fell for two years in a row — mainly due to weak global demand — but also strikes in the nation’s auto industry and the termination of Samsung’s Note 7 phablet.

But looking at the monthly breakdown,… exports have made a turnaround since November — the first time in over two years they’ve posted positive growth for two straight months. And that trend has continued into January — with exports jumping nearly 38 percent on year… in the first ten days of the month. Although it’s partly due to more working days… and exports being so low a year ago,… most analysts are cautiously optimistic. “The global economy for the most part is expected to pick up this year compared to 2016. Global oil prices are gradually rising and export unit prices are improving.

Foreign exchange conditions are also giving Korea better price competitiveness.” But under the Trump administration in the U.S.,…

there are fears of increased

there are fears of increased protectionism. Trump has said the U.S. will impose higher tariffs on goods from China and Mexico — and this will have ripple effects on Korea, which exports some of its products through those markets. Also, Seoul’s decision to deploy the U.S. THAAD missile defense system has been met with apparent retaliation from China in terms of trade.

Already, Korean cosmetics are facing more scrutiny,… and more pressure from Beijing would take a toll on local exporters, as China accounts for roughly a quarter of Korea’s total exports. Experts say the government will need to keep a close eye on protectionism and non-tariff barriers… and cooperate with other countries to counter these measures. But, in the longer run, they say that’s not enough. “Companies need to step up investment to come up with new innovative products to export, as well as take advantage of niche markets. On the government level, they need to identify obstacles that hinder companies’ performance and make better use of FTAs.” Some say Korea is stuck between a rock and a hard place.

It hasn’t caught up with the technology of advanced countries like Japan or Germany,… and it can’t compete with countries like China in terms of price. Experts say Korea needs to stay on track and keep working its way up.

Korea’s exports expected to maintain recovery momentum in 2017

The past two years have not been kind to Korean exporters.

The global

And with a slew of uncertainties ahead,…. including the possibility of greater trade protectionsim from the U.S.,… there could be more battles ahead. For more on what exporters should brace for,… let’s turn to our Kim Min-ji. Korea’s exports have had a rough time of late. For the first time in 58 years,… outbound shipments fell for two years in a row — mainly due to weak global demand — but also strikes in the nation’s auto industry and the termination of Samsung’s Note 7 phablet.

But looking at the monthly breakdown,… exports have made a turnaround since November — the first time in over two years they’ve posted positive growth for two straight months. And that trend has continued into January — with exports jumping nearly 38 percent on year… in the first ten days of the month. Although it’s partly due to more working days… and exports being so low a year ago,… most analysts are cautiously optimistic. “The global economy for the most part is expected to pick up this year compared to 2016. Global oil prices are gradually rising and export unit prices are improving.

Foreign exchange conditions are also giving Korea better price competitiveness.” But under the Trump administration in the U.S.,… there are fears of increased protectionism. Trump has said the U.S. will impose higher tariffs on goods from China and Mexico — and this will have ripple effects on Korea, which exports some of its products through those markets. Also, Seoul’s decision to deploy the U.S.

THAAD missile defense system has been met with apparent retaliation from China in terms of trade. Already, Korean cosmetics are facing more scrutiny,… and more pressure from Beijing would take a toll on local exporters, as China accounts for roughly a quarter of Korea’s total exports. Experts say the government will need to keep a close eye on protectionism and non-tariff barriers… and cooperate with other countries to counter these measures. But, in the longer run, they say that’s not enough. “Companies need to step up investment to come up with new innovative products to export, as well as take advantage of niche markets. On the government level, they need to identify obstacles that hinder companies’ performance and make better use of FTAs.” Some say Korea is stuck between a rock and a hard place.

It hasn’t caught up with the technology of advanced countries like Japan or Germany,… and it can’t compete with countries like China in terms of price. Experts say Korea needs to stay on track and keep working its way up.