KOTRA Bullish on Exports
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KOTRA said Oct. 5 ,in its prospect for overseas market demand,  total import demand at overseas markets during October has increased from 9 to 10 percent year-on-year and demand for Korean products would rise 14 to 16 percent.

By region, imports of Korean goods from the Chinese sphere would rise from 21 to 23 percent, North America from 11 to 12 percent and Europe from 12 to 13 percent with Korean exports expected to do well in all of the 8 largest market regions in the world showing an increase of more than 10 percent year-on-year.

All export products are expected to do well, although computers and LCDs would see their prices fall and thus their local production overseas would have to be hiked. The textile products would see their prices practically remain the same as last year, rising only from 3 to 5 percent.

Ohm Sung-pil, manager of overseas survey team at KOTRA, said the import demand for Korean products in October would top $21 billion owing to China's stable increase in production and investment, the arrival of the year-end holiday season and continuous economic recovery in Japan.

A regional review shows that despite China's anti-inflation policies, production and investment appear to be stable all across the economy, except some sectors. In the case of IT products, demand for high-end products with diversified function is rising and imports from Korea are likely to increase due to shortages of core parts.

The North American region would show import demand for capital goods including machinery and raw material such as steel products has been increasing. Import demand for consumer products including high-tech electronics goods, petrochemical products, and textile goods also is likely to rise  due to the approaching year-end holiday season including Christmas.

The European region would show its demand for sedans, flat panel displays and white-color electronic products rising despite its sluggish domestic economy due to improved brand images for those products through intense marketing activity.

The Asia-Oceania region would show import demand rising for mobile phones, luxury electronic home appliances -durable consumer products -while trade walls for capital goods are coming down as individual countries in the region carry on with their economic development projects.

Japanese imports would continue to swell with its economy projected to grow 3.5 percent by the Japanese government and 4.4 percent by OECD amid flourishing exports.

The Middle East and Africa region would show large increases in oil revenue thanks to high oil prices continuing for the past three years. Investments in social overhead capital projects are likely to increase substantially, while Korean products would enjoy an advantage of the high exchange rate of Euro currency averaging from 20 to 30 percent rise.

The Central and South American region the import demand for industrial equipment and parts are estimated to increase in Mexico due to the recovery in its manufacturing sector. Brazil is likely to see its imports of raw material and parts rise substantially in tandem with its rising exports recording 23 percent increase.

The Commonwealth of Independent States(CIS) shows its demand for durable consumer goods with its purchasing power rising thanks to high oil prices. Foreign investment has been increasing also with areas diversifying, which will cause imports to expand.

By products, exports of wireless communication equipment, semiconductor, electronic home appliances, steel products, automotive parts, automobiles, tire, general machinery, vessels, petrochemical products, and plastics are among those to do well rising more than 10 percent in shipment.   nw