Trade growth in South Korea likely to have recovered on base effects in May
South Korea’s trade figures for May are likely to have recovered considerably. The year-on-year growth in imports and exports are expected to have picked up due to base effects. The trade surplus is also expected to have…
South Korea’s trade figures for May are likely to have recovered considerably. The year-on-year growth in imports and exports are expected to have picked up due to base effects. The trade surplus is also expected to have increased, said Societe Generale in a research report.
“Based on the interim trade data to 20 May, we expect exports to rise moderately from $41.0bn in April to $42.4bn in May, while we are looking for a slight rise in imports from $32.2bn to $32.4bn over the same period”, added Societe Generale.
The recovery in the year-on-year growth in imports and exports are expected to have come from a huge decline in imports and exports in May 2015. The month-on-month non-seasonally adjusted growth was -8.4% in exports and -4.8% in imports. The performance of exports should be seen as ‘stable’ that will underpin the view that the second quarter GDP growth will depend on domestic demand, noted Societe Generale.
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