South Korea GDP Growth Accelerates

In the first quarter of 2014, the South Korean economy advanced 3.9 percent year-on-year, accelerating from a 3.7 percent expansion in the previous quarter and matching the advance estimate.

Final estimates showed private consumption rose 2.5 percent, down from an advance estimate of 3.6 percent. Gross fixed capital formation grew at a slower pace compared with the preliminary result (5.9 percent versus 6.2 percent). Exports advanced 4.5 percent, slightly down from an initial 4.6 percent estimate and imports expanded at a slower 3.5 percent.

In contrast, government consumption grew at a faster 2.9 percent, compared with an initial estimate of 2.7 percent.

On a quarter-on-quarter basis, the economy advanced 0.9 percent in the first three months of 2014, the same rate recorded in the previous period.

South Korea GDP Growth Accelerates

The Bank of Korea | Isabel Felino |
6/5/2014 2:01:40 PM