A widely expected U.S. rate hike and lower
global oil prices are hinting troubles ahead for emerging economies.
And that also includes Korea because the first two months of the year have shown the country′s
exports to emerging markets… taking a big hit.
Kim Min－ji has more on whether it looks like this worrisome trend will continue.
Korean exports to emerging economies took a dive in the first two months of this year，…
casting a cloud over the nation′s economy. According to Statistics Korea on Monday，…
Korea′s exports to 18 emerging economies came to nearly 37 billion dollars in the January
to February period，… down 6－point－2 percent from the same period a year earlier.
The decline is three times bigger compared to Korea′s total exports，… which dropped
about 2 percent in the cited period. Emerging economies include China， Russia
and India. The decline is a concern for Korea as emerging
markets make up about half of its exports， accounting for 45－point－1 percent in 2013
but that figure fell to 43－point－9 percent last year.
Experts say the fall is linked to a widely expected U.S. Federal Reserve rate hike this
year. The rate increase could trigger a rush of
capital，… which can weaken currencies and hurt stock markets.
This， coupled with a sharp decline in global oil prices， has hurt oil－producing nations，
some of which are also emerging economies. Korea′s exports to these countries fell
4－point－4 percent in the first two months of 2015 compared to the previous year.
Given these global conditions， experts say Korea′s export outlook remains unclear，…
and export growth will likely be in the 1－percent range，… down from 2－point－3 percent
last year. Kim Min－ji， Arirang News.