KOREA'S EXPORTS TO 10 LARGEST MARKETS SET TO FALL IN H2.

SEOUL, Sept 3 Asia Pulse - The export outlook for the country's 10 largest overseas markets continues to grow grim in the second half, according to a report compiled by the Korea Trade-Investment Agency (KOTRA) Monday.

The agency said exports to China, which expanded in the first half, are also likely to cool during the second half, while the export shortfall to countries like Singapore and Malaysia are expected to expand.

The 10 largest export destinations in the first half were the United States, China (including Hong Kong), Japan, Taiwan, Singapore, Germany, Britain, Indonesia, the Netherlands and Malaysia, which took up 67.2 per cent or US$52.8 billion in exports in the first half.

Exports to the United States decreased 8.8 per cent in the first half on year, with those to Japan and Germany down 6.3 per cent and 7.8 per cent, respectively. Exports to Taiwan, Britain, Singapore, and Malaysia fell more than 20 per cent.

Exports increased to only three countries: China (including Hong Kong) up 2.5 per cent, Indonesia up 6.9 per cent and the Netherlands up 16.9 per cent.

Exports to the United States in the second half are likely to contract further due to its economic downturn, intensified competition and import restrictions. Those to China are also expected to contract due to the slow down in demand for Korean intermediate goods for exports. Exports to Hong Kong is likely to fall 6.5 per cent in the second half.

Exports to Japan are likely to match the level of last year due to increased demand for information technology products ...