UPDATE 1-South Korea Nov exports rise slightly; miss expectations
SEOUL, Dec 1 (Reuters) - Industrial powerhouse South Korea on Sunday published disappointing foreign trade data for the past month, dashing hopes for the global economy to pick up on a U.S. recovery and stabilising European economies.
Overseas shipments by the world's seventh-largest exporter rose just 0.2 percent in November from a year earlier in dollar value, the government said, smaller than a median gain of 2.8 percent tipped in a Reuters survey of 13 analysts.
Imports fell 0.6 percent in November on an annual basis, weaker than even the worst forecasts from the same survey and underscoring depressed demand within the country for consumption and investment.
South Korea is Asia's fourth-largest economy and home to some of the world's top vendors, such as smartphone maker Samsung Electronics, automaker Hyundai Motor and shipbuilder Hyundai Heavy Industries .
China is South Korea's top export market, taking about one-quarter of its smaller neighbour's global exports, with the United States and the European Union taking another 10 percent each.
Robust exports and imports performance in October, up 7.2 percent and 5.2 percent on the year, respectively, had raised hopes global demand was recovering ground, thanks to the U.S. recovery and stabilising confidence in Europe.
The Ministry of Trade, Industry and Energy will unveil more details of November foreign trade performance later in the day, while Reuters calculations show the average exports per working day also fell to $2.04 billion from $2.20 billion in October.