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KOREAN TRADE, INDUSTRIAL OUTPUT, CONSUMPTION TO GROW H2 2006.
SEOUL, July 3 Asia Pulse - South Korea's foreign trade, industrial output and consumption are expected to grow in the second half of the year, according to a report released Sunday by a state-run economic think tank.
The report, compiled by the Korea Institute for Industrial Economics and Trade (KIET), said most of the country's top 10 industries will post positive growth, with the exception of textiles and clothing.
South Korea's leading industries are auto manufacturing, shipbuilding, general machinery, steel, petrochemicals and textiles, information technology (IT), consumer electronics, computers, telecommunications and semiconductors.
It said the auto, steel, petrochemical, telecommunications, computer and semiconductor industries are all expected to have greater production in the coming months than in the first half.
Autos, semiconductors, and telecommunications may grow 7.1 per cent, 19.6 per cent and 12.1 per cent, respectively, according to a simulation run by the think tank. It said even industries that can expect dips in growth rates, like shipbuilding and consumer electronics, could make good gains.
"Enhanced competitiveness, the general health of the global economy and domestic demand are all likely to cause industrial output to rise," the report said.
In addition, the KIET said export growth of the top 10 industries could reach 10.4 per cent in the second half, up from 7.3 per cent growth from January through June.
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