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S.Korea Q4 exports seen down around 9 pct on yr - state bank

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SEOUL | Wednesday, Nov 4 2015 IST
South Korean exports are likely to fall sharply in the current quarter, a government-run bank specialising in trade financing said today, extending a year-long decline that has dragged on growth in Asia's fourth-largest economy. A report by the research arm of the Export-Import Bank of Korea forecast that South Korea's exports would fall by around 9 percent during the October-December period from a year ago, after a 9.5 percent decline in the third quarter. Shipments by the world's seventh-largest exporting country and a bellwether for global demand have collapsed this year, mainly as China's giant economy cools to the slowest pace in decades and as Europe struggles to lift-off. In the September quarter, South Korean exports posted their worst annual loss in six years and marked the fourth consecutive quarter of year-on-year deterioration in shipments, separate data showed earlier. The ex-im bank's overseas economic research institute said the forecasts were based on its leading exports indicator, which fell 6.2 per cent this quarter from a year earlier, but rose 3.7 percent from the September quarter. REUTERS AY RK1025

-- (Reuters) -- C-1-1-DL0352-420701.Xml

 
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