Exports in November will probably grow 2.6 percent from a year earlier, the median forecast from the survey of 16 analysts found, accelerating from a 1.1 percent rise in October and the first two consecutive monthly gains seen this year.

Overseas sales by South Korea, Asia's fourth-largest economy and home to global suppliers such as Samsung Electronics and Hyundai Motor, suffered annual losses in seven out of the past 10 months.

"Overall, strengthening economic rebound in the U.S., reduced euro zone risks and signs of a pick-up in China likely helped (exports by) South Korea," said Na Jung-hyeok, economist at IBK Securities.

Both private-sector experts and government officials have said global demand would recover only gradually as most of the major economies including those in Europe have yet to recover from the shocks of the euro zone fiscal crisis.

On Tuesday the Organisation for Economic Co-operation and Development (OECD) sharply cut its forecast for global economic growth for both this year and next, citing the worse-than-expected impact of euro zone troubles.

South Korea sends more than a combined 40 percent of its total exports to China, the United States and the European Union, and saw overseas sales drop by about 1 percent for the past 10 months over a year earlier.

In addition, the won's sharp appreciation against the major currencies would also hamper a fast recovery in South Korean exports, analysts said.

The won has gained about 9 percent against the dollar over the past six months and shot up 14 percent against the yen over the period, provoking South Korean authorities to take action on Tuesday to curb the won's rally.

Separately, the analysts surveyed by Reuters predicted South Korea's annual consumer inflation would slow to a median 1.9 percent in November from 2.1 percent in October, easing below the central bank's target range set between 2 percent and 4 percent.

With inflation comfortably low, analysts said the Bank of Korea could afford to cut its interest rates again early next year on top of two reductions this year, should the economic recovery fail to gather pace soon.

Another survey of 14 economists tipped October's industrial output to have risen by a seasonally adjusted 0.8 percent from September, tracking gradually recovering exports. (Reuters)