Chip, textile industries expected to fare better in Q2: report

By Nam Kwang-sik
SEOUL, April 4 (Yonhap) -- South Korea's semiconductor, textile, machinery and
electronics industries are predicted to enjoy an export boom in the second
quarter thanks to increased demand and the global economic recovery, a report
said Sunday.
The country's shipbuilding industry, however, is expected to suffer a slump due
to sluggish overseas orders, while the construction sector will continue to
struggle on a continued domestic housing market slowdown, according to the report
released by the Korea Chamber of Commerce and Industry (KCCI).
Overseas shipments of semiconductors are forecast to rise 35.1 percent on-year to
US$9.5 billion in the April-June period, while textile exports are predicted to
advance 15.2 percent to $3.5 billion amid rebounding demand in China and
Southeast Asia, the report said.
South Korea's machinery exports are expected to get a boost from continued demand
in China, the United States and Russia, rising 18.2 percent from a year ago to
$8.2 billion for the period.
The report also said that exports of electronic goods will rise 13.4 percent
on-year to $33.1 billion.
Shipbuilders' second-quarter exports are forecast to reach $12.9 billion, down
2.8 percent from the previous year.
Automakers will see a slight rise in exports to emerging markets like Central and
South America and the Middle East, but will suffer from a decline in domestic
sales, the report said.
Increased refining margins are expected to improve earnings for local
petrochemical makers who saw poor performances last year due to decreased
refining margins.
ksnam@yna.co.kr
(END)

Delete & Prev | Delete & Next