KOTRA Assesses 1999 Export Prospects

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KOTRA Assesses 1999 Export Prospects

The Korea Trade and Investment Promotion Agency(KOTRA) on January 3 issued its predictions for 1999's exports in every business sector.
According to next year's outlook, the semiconductor, automobile and cellular phone industries are promising while the steel and tire industries are anticipated to face an uphill battle in exports.
KOTRA, in general, foresaw inclement conditions prevailing in the export market for the upcoming year. Only semiconductors, automobiles and shipbuilding are guaranteed as bright a future as their successful pasts.
Semiconductors will take advantage of a wide market and DRam price increases to jump 11 percent in export sales, expected to reach at least 18 billion dollars. Car exports are expected to reach 1.5 million units shipped around the world, up 11.1 percent and Korean-made ships might surpass the 6.6 billion mark, a 9 percent rise over 1998's.
However, most exporting items including tires, clothing, textiles and steel will mark minus growth rates due to buyer-countries' lack of demand.
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