South Korean exports rise after four months of decline
- 1 November 2012
- From the section Business
South Korean exports have risen for the first time in four months, raising hope that the economy could be starting to recover.
Overseas shipments rose 1.2% in October from a year earlier, the Ministry of Knowledge Economy said.
Exports declined a revised 2% in September.
South Korea, an export-led economy, has seen global demand for its cars, electronics and ships slump in recent months.
Analysts, however, were cautious that the numbers heralded a recovery while the global economy was still struggling.
"Until the US overcomes the risk of a possible fiscal cliff [higher taxes coupled with spending cuts] and China decides to partake in more easing policy, trade will tread water," said Park Hyung-jung from Meritz Securities.
China is South Korea's largest export market, but slowing growth there has been dampening demand.
In October shipments to China rose 5.7% from a year earlier, while shipments to the European Union rose 2%, data showed.
Exports to the US declined by 3.5%.