South Korea’s export growth to soar by 17.6% in January

A decent rebound from last December’s decline.

According to Nomura, the continued improvement in foreign demand should support Korea's underlying exports in the coming months. It maintains its call for no more rate cuts in 2013.

“We now forecast Korea’s exports (USD custom basis) to surge by 17.6% y-o-y in January after a 5.5% in decline in December. The Lunar New Year fell in January in 2012, but this year’s one is in February. As a result, this year January has more working days (24 days) than last year (22 days).”

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