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South Korea 2014 exports rise 2.4pc to US$573.1 billion, December up 3.7pc
SOUTH KOREA, the worldˇ seventh biggest exporter, saw exports grow 3.7 per cent in December year on year having grown 2.4 per cent throughout 2014 over a year earlier, Reuters reports.
Trade ministry data reveals that exports for 2014 hit a record US$573.1 billion, underlining the strength of companies like smartphone maker Samsung Electronics and automaker Hyundai Motor.
Despite concerns about uncertain and a weak Japanese yen, South Korean exports in December grew in China, the US and the EU, which buy nearly half of its export output.
Finance Minister Choi Kyung-hwan welcomed the resilient export performance for December, but promised to ¨do the utmost" to re-energise the economy in the new year.
The finance ministry estimates South Koreaˇ economy will expand 3.4 per cent in 2014 and expects growth to quicken to 3.8 per cent in 2015.
Trade ministry data reveals that exports for 2014 hit a record US$573.1 billion, underlining the strength of companies like smartphone maker Samsung Electronics and automaker Hyundai Motor.
Despite concerns about uncertain and a weak Japanese yen, South Korean exports in December grew in China, the US and the EU, which buy nearly half of its export output.
Finance Minister Choi Kyung-hwan welcomed the resilient export performance for December, but promised to ¨do the utmost" to re-energise the economy in the new year.
The finance ministry estimates South Koreaˇ economy will expand 3.4 per cent in 2014 and expects growth to quicken to 3.8 per cent in 2015.
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