Trade Minister Joo Hyung-hwan expects South Korea’s exports to rebound in the fourth quarter for the first time in two years.

The minister said on Monday that the upbeat trend will likely continue in December and exports will enter the phase of recovery after the fourth quarter.

He also projected exports will expand around two percent next year.

The country’s monthly outbound shipments rebounded in August for the first time in 20 months before shrinking again, followed by a turnaround of two-point-five percent growth in November.