The Korea Institute for Industrial Economics and Trade(KIET) has forecast that South Korea’s economy will post economic growth this year similar to last year’s.

In an economic and industrial outlook report for the latter half of 2016 released on Wednesday, the institute said the nation’s gross domestic product is expected to post growth of two-point-six percent this year.

By sectors, the state-run think tank projected that private consumption will surge two-point-one percent and construction investment will jump four-point-seven percent, which is higher than the three-point-nine percent growth posted last year. Investments in plants and equipment are predicted to slip one-point-six percent in stark contrast to the five-point-three percent growth posted last year.

Exports, which have been slipping for 17 straight months since last May, are forecast to show a considerable recovery in the second half of the year.

The trade surplus, meanwhile, is forecast to increase to 92-point-nine billion U.S. dollars from last year’s 90-point-three billion dollars as imports are expected to decline more than exports.