KONTAN.CO.ID - 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 eases from the second half of this year, exports are not expected to rebound by as much as in the past due to structural changes in the Chinese economy," the Bank of Korea (BOK) said. The BOK said that recent weakness in China-bound exports was 35% due to structural factors such as higher competitiveness of Chinese companies, while 65% resulted from a cyclical factor of weak demand.
South Korea Export Recovery to be Sluggish Compared With Past
KONTAN.CO.ID - 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 eases from the second half of this year, exports are not expected to rebound by as much as in the past due to structural changes in the Chinese economy," the Bank of Korea (BOK) said. The BOK said that recent weakness in China-bound exports was 35% due to structural factors such as higher competitiveness of Chinese companies, while 65% resulted from a cyclical factor of weak demand.