South Korea GDP Advances 3.9% YoY in Q4 2013

In the fourth quarter of 2013, South Korea GDP expanded 3.9 percent, the highest growth rate in eleven quarters, boosted by private consumption and capital investment.

Private consumption accelerated for the fourth straight quarter to 2.2 percent (2.1 percent in the previous quarter) and government consumption rose 3.6 percent (up from 3.1 percent in the previous three-month period).

While facilities investment rose the most on the year (9.9 percent, from 1.5 percent in the September quarter), construction investment slowed to 8.1 percent.

Exports accelerated to 5.5 percent and imports rose 5.2 percent.

For the full 2013, the GDP increased by 2.8 percent. On the expenditure side, although facilities investment fell for the second consecutive year, private consumption steadily increased and construction investment swung back to large positive growth, while exports sustained their steady growth.

On the production side, services showed a level of growth similar to that in 2012, while the growth in manufacturing accelerated compared to the previous year.

South Korea GDP Advances 3.9% YoY in Q4 2013

The Bank of Korea | Joana Taborda |
1/22/2014 11:31:44 PM