South Korea's exports are expected to rise an annual 4.3 percent in 2015, a report from the country's representative trade body showed, which would be the biggest gain since 2011 but still below the robust growth rates seen in earlier years. Exports are expected to pick up on increased offshore demand and more working days compared to 2014, the Korea International Trade Association (KITA) said in a statement. However, the pending start to U.S. Federal Reserve's rate tightening cycle and prolonged weakness of the yen remain risks to the exports outlook, it added. The trade body's forecast for next year falls short of the central bank's projection of 5.5 percent and remains well below double-digit exports growth seen for the majority of the 2000 to 2011 years. Shipments from Asia's fourth-largest economy have been improving but at a slow pace, benefiting mainly from U.S. demand while exports to China and European Union have declined, adding to worries about the demand outlook. Exports of ships, semiconductors and displays are expected to see improved growth next year, the report said, while those of telecommunications and oil products are likely to continue to underperform due to stiff overseas competition and falling global oil prices. This year, KITA forecasts shipments to rise 2.9 percent, roughly in line with the government's projections of about 3 percent. The Bank of Korea is more optimistic, forecasting shipments growth of 4.0 percent for 2014. (Reuters)