Trade Surplus to Reach $ 40 Bil.

Korea's trade surplus this year is forecasted to record more than 40 billion dollars.
According to a report entitled 'Imports and Exports Forecast in the 4th Quarter 1998' issued by the Korea Traders Association on October 29, exports for the fourth quarter in 1998 would record 34.5 billion dollars, while imports during the same period would be only 23.1 billion dollars. Exports would reach 132.5 billion dollars for this year with imports totaling only 92.2 billion dollars. Thus, the trade surplus for 1998 would reach 40.3 billion dollars.
This report predicted that the sluggish export trend would continue in the fourth quarter as well, but the rate of exports decreasing would be 6.1%, better than the 9.7% recorded for the third quarter, due to stable labor-management relations and the rally in semiconductor prices.
Exports in steel, ship building, textiles, and tires are expected to increase, but petrochemical products and machinery will decrease in exports.
Imports in the fourth quarter will slightly increase due to enlarged oil imports for the winter season.