South Korea sees "big difference" in 2016 export prospects from last year

[SEOUL] South Korea's trade ministry said on Monday there is a "big difference" in external conditions now compared to when it issued export forecasts last year, and added that prospects for 2016 are worse than initially expected.

Lee In-ho, an official at the ministry for international trade, said in a press conference for January trade that external conditions are currently "not easy" and that conditions in China, the US and emerging economies have worsened since the ministry last released trade forecasts.

Last year, the trade ministry forecast exports would rise by 2.1 per cent and imports by 2.6 per cent in 2016.

REUTERS