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.

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