SEOUL: South Korea's December exports beat forecasts, rising to a record as demand picked up from almost all regions, data showed Saturday, adding to the case for more interest rate increases from as early as next month. The data released by the world's seventh-largest exporter also eases concerns the global economy could slip back into a slump on the stubbornly high US unemployment and the fallout from Europe's debt crisis. Analysts said the figures along with Friday's data showing a pick-up in December inflation would easily offset any economic fallout from the heightened tension with North Korea and persuade the central bank to keep raising interest rates. “Strong exports will certainly prevent the (South Korean) economy from slowing rapidly while inflation is gathering pace. So I don't see any problem with the view of more interest rate increases ahead,” said Park Sang-hyun, chief economist at HI Investment & Securities. Exports grew 23.1 percent to a record $44.34 billion in December from a year before, while imports increased 23.3 percent to $40.60 billion , producing a trade surplus of $3.74 billion , the Ministry of Knowledge Economy data showed. All figures are provisional. The median forecast from a Reuters survey of analysts were for exports to rise 19.1 percent in December from a year earlier.
