KONTAN.CO.ID - SEOUL. South Korean exports fell again in the first 20 days of December, but a recovery in demand from China and stabilising chip prices offered signs that a year-long run of declines may be nearing its end. Exports by Asia's fourth-largest economy during December 1-20 slid 2.0% on-year in value, customs data showed on Monday, the slowest fall in a year and far better than a 9.6% loss for the comparable 20-day period of November. The average exports value per working day, a useful measure of a near-term trend after adjustment for calendar effects, slid 5.1% for the Dec. 1-20 period on-year, improving from a 9.6% fall in the Nov. 1-20 period and the best outcome in nine months.
"Given the increase in exports to China and the slower pace of contraction in chip sales, today's figure show exports are on the path of recovery," said Park Sang-hyun, chief economist at Hi Investment & Securities. Read Also: U.S. lawmakers gift-wrap an impeachment impasse ahead of holiday break Shipments to China rose 5.3% on-year during the 20-day period. South Korea's largest export market takes in more than a quarter of its smaller neighbour's total sales abroad.