SEOUL--South Korea's exports expanded for a second straight month in November from a year earlier, and posted faster growth than in October when exports turned positive for the first time in four months, government data showed Saturday.
The accelerated back-to-back growth in exports beat market expectations, adding to hopes that Asia's fourth-largest economy is picking up.
Exports grew 3.9% on-year to $47.80 billion in November, and imports rose 0.7% on-year to $43.32 billion, resulting in a surplus of $4.48 billion, according to preliminary data from the Ministry of Knowledge Economy.
In October, exports and imports posted a revised 1.1% rise and a revised 1.7% gain on-year respectively -- which marked the first turnaround in four months for South Korea's shipments overseas.
The November export reading was well above the median forecast of nine economists surveyed by Dow Jones Newswires, predicting a 2.6% rise, while the imports reading was below the median forecast of a 1.3% gain. The poll had forecast a $3.4 billion trade surplus.
The trade data came a day after South Korea reported its industrial production rose for a second straight month in October but at a weaker pace than the previous month. The output was up 0.6% on-month in October, compared with a 0.7% rise in September.
South Korea's economy has been hit by shrinking demand overseas amid weaker growth in China, the country's largest export destination, as Europe's debt crisis continues to weaken the global economy.
State-run think tank Korea Development Institute on Sunday said it expects South Korea to post growth of 2.2% in 2012, weaker than its September projection of 2.5% growth. The economy grew 3.6% in 2011.
KDI said South Korea's economy is expected to expand 3.0% in 2013, weaker than its September estimate of 3.4% growth.
Some analysts have said South Korea's economy likely bottomed in the third quarter and is expected to rebound in the current quarter.
Write to Kwanwoo Jun at kwanwoo.jun@dowjones.com
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