Dark Clouds Predicted for 1999 Exports

The Korea Trade and Investment Promotion Agency (KOTRA) expects that exports from the nation's core manufacturers including ship building, petrochemicals, textiles, and steel will be not good in 1999.
KOTRA indicated that motor exports will increase slightly but in general there will be a lot of of negative factors to contend with including the continuing stagnation of the domestic market and a correction of the U.S. economy.
Ship exports are expected to decrease by 3 percent to 7.4 billion dollars. Orders are also predicted to drop by 10 percent to nine million dollars.
Petrochemical exports will experience hard times for the time being. China, which accounts for 40 percent of Korea's petrochemical exports, is predicted to begin anti-dumping measures against Korea.
Textile exports are also expected to fall by 7.1 percent to 17 billion dollars.
The total sum of steel production will not exceed the level of 38 million tons.
The car industry is one of the only bright spots. Motor exports are predicted to increase by 7.4 percent to 1.45 million units.
Semiconductor exports are also expected to rise by 10.0 percent to 18.8 billion dollars.