Finance, Forex and Investments

Nearly 90 of Local Exporters Optimistic about Next Year

Summary: Nine out of 10 South Korean exporters remain optimistic about the increase of exports next year a survey found The survey of 510 local exporters released by Korea Chamber of Commerce and Industry on December 13 showed that 49 8 see their exports increase next year from this year 39 4 said it will be a similar level This means 89 2 of exporters project next year s performance will be similar or above this year s level Pessimists who estimated their exports will decrease were only 11 of total Reasons for the export increase included economic recovery of importing countries improvement in non price competitiveness such as product quality and brand images and eased competition in exporting markets Asia excluding China and India BRICs North America and Europe were chosen as promising markets for exports next year Surveyed companies also projected the average won dollar exchange rate will be 1 111 won down from the current level 55 6 said their exports will decrease when the parity rate falls about 10 while 39 4 said there is no major impact Regarding questions on policies that should be taken by the government for more exports next year respondents picked the stabilization of foreign currency exchange rate 49 support for export financing 41 support for overseas marketing 21 1 and push of new free trade agreements 20 3 Written by Dae young Kim edited by Soyoung Chung Nine out of 10 South Korean exporters remain optimistic about the increase of exports next year a survey found The survey of 510 local exporters released by Korea Chamber of Commerce and Industry on December 13 showed that 49 8 see their exports increase next year from this year 39 4 said it will be a similar level This means 89 2 of exporters project next year s performance will be similar or above this year s level Pessimists who estimated their exports will decrease were only 11 of total Reasons for the export increase included economic recovery of importing countries improvement in non price competitiveness such as product quality and brand images and eased competition in exporting markets Asia excluding China and India BRICs North America and Europe were chosen as promising markets for exports next year Surveyed companies also projected the average won dollar exchange rate will be 1 111 won down from the current level 55 6 said their exports will decrease when the parity rate falls about 10 while 39 4 said there is no major impact Regarding questions on policies that should be taken by the government for more exports next year respondents picked the stabilization of foreign currency exchange rate 49 support for export financing 41 support for overseas marketing 21 1 and push of new free trade agreements 20 3 Written by Dae young Kim edited by Soyoung Chung

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