SEOUL : South Korea's exports are expected to recover going forward, but at a sluggish pace compared with the past due to a narrower gap in competitiveness against China, the central bank said in a report published on Friday. 'Even if the sluggishness of the information technology (IT) industry cycle ease
SEOUL : South Korea's exports are expected to recover going forward, but at a sluggish pace compared with the past due to a narrower gap in competitiveness against China, the central bank said in a report published on Friday.
The BOK said that recent weakness in China-bound exports was 35 per cent due to structural factors such as higher competitiveness of Chinese companies, while 65 per cent resulted from a cyclical factor of weak demand. Separate data showed on Friday South Korea's exports for the first 20 days of July dropped 15 per cent over a year, after falling 6 per cent for the whole of June.
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