South Korea exports growth seen softening in January; CPI seen up 3.3%

South Korea exports growth seen softening in January; CPI seen up 3.3%

27/1/2022 8:43:00 AM

South Korea exports growth seen softening in January; CPI seen up 3.3%

SEOUL: South Korean exports likely grew for a 15th straight month in January, but at a slower pace than in the prior month, a Reuters poll showed on Thursday (Jan 27), as global supply hiccups continued, while cost pressures stayed elevated. Exports in terms of value were seen growing 15.5 per cent in Janu

SEOUL: South Korean exports likely grew for a 15th straight month in January, but at a slower pace than in the prior month, a Reuters poll showed on Thursday (Jan 27), as global supply hiccups continued, while cost pressures stayed elevated.Exports in terms of value were seen growing 15.5 per cent in January from a year earlier, according to the median forecast of 10 economists, slowing down from 18.3 per cent expansion in December.

"Demand for chips, cars and petrochemical products remain strong," said Chun Kyu-yeon, an analyst at Hana Financial Investment said."But supply chain hiccups and resurgence of COVID-19 cases globally restricted shipments of some items, and base effects from lows of last year are also fading."

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North Korea fires projectile in sixth launch this month, South Korea saysSEOUL: North Korea fired at least one \u0022unknown projectile\u0022 into the sea off its east coast, South Korea\u0027s military said on Thursday (Jan 27), in what would be the sixth round of missile tests this month. South Korea\u0027s Joint Chiefs of Staff said it had detected the launch, but did not elaborate. The suspect

North Korea fires two missiles in latest testing frenzy, South Korea saysSEOUL: Nuclear-armed North Korea fired what appeared to be two ballistic missiles into the sea off its east coast, South Korea\u0027s military said on Thursday (Jan 27), in what would be the sixth round of missile tests this month. South Korea\u0027s Joint Chiefs of Staff said it had detected the launch of what it p

North Korea fires projectile into sea off east coast, South Korea saysSEOUL: North Korea fired at least one \u0022unknown projectile\u0022 into the sea off its east coast, South Korea\u0027s military said on Thursday (Jan 27), in what would be the sixth round of missile tests this month. South Korea\u0027s Joint Chiefs of Staff said it had detected the launch, but did not elaborate. O What a waste. He can not grow crops for feeding his people, but he has plenty of recourses for procuring weapons.

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LinkedIn SEOUL: South Korean exports likely grew for a 15th straight month in January, but at a slower pace than in the prior month, a Reuters poll showed on Thursday (Jan 27), as global supply hiccups continued, while cost pressures stayed elevated. Exports in terms of value were seen growing 15.5 per cent in January from a year earlier, according to the median forecast of 10 economists, slowing down from 18.3 per cent expansion in December. "Demand for chips, cars and petrochemical products remain strong," said Chun Kyu-yeon, an analyst at Hana Financial Investment said. "But supply chain hiccups and resurgence of COVID-19 cases globally restricted shipments of some items, and base effects from lows of last year are also fading." Economies around the world suffered from the global chip supply shortage and other production bottlenecks as the highly transmissible Omicron variant of COVID-19 became the dominant strain of infection in many parts of the world. South Korea reported a record high 14,518 new daily COVID-19 cases for Wednesday, clouding the outlook for global trade after exports out of Asia's fourth largest economy expanded at their fastest pace in 11 years in 2021. Preliminary data from last week showed exports for the first 20 days of the month soared 22 per cent from a year earlier, with deliveries to China and the United States jumping 18.8 per cent and 28 per cent, respectively. Economists saw January imports growing 32.8 per cent, also slowing slightly from a 37.1 per cent expansion in December. The full-month trade data will be published on Tuesday at 9am (0000 GMT). In the same Reuters poll, economists projected the consumer price index (CPI) would rise 3.3 per cent this month from a year earlier, slowing from a decade-high 3.8 per cent rise in November. Some 15 economists also estimated industrial output in December rose a median 1 per cent from November. Source: Reuters/ta