Exports are buoyant despite weakening in China’s demand

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Exports are buoyant despite weakening in China’s demand

Korean exports are faring better than expected despite a slowdown in China, its biggest trade partner, as demand from countries in Southeast Asia and the U.S. has picked up, a Bank of Korea board member said yesterday.

“We thought that exports would ease as the Chinese economy slowed down, but shipments have suffered less than expected,” Ha Sung-keun, one of seven members of the central bank’s monetary policy committee, told a seminar in Seoul.

Ha added that domestic consumption, on the other hand, was performing worse than expected with recovery proving to be disappointing and that inflation would likely remain low.

Reuters

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