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Biz News Korea(Eng)
S. Korea’s GDP gains 0.8% in Q2, fastest since Q3 2015
- Collected
- 2016.09.03
- Distributed
- 2016.09.05
- Source
- Go Direct
According to the preliminary GDP data released by the Bank of Korea on Friday, the nation’s GDP totaled 375.3 trillion won ($336.3 billion) in the April - June period, adding 0.8 percent in the fastest growth since the third quarter of last year.
On a yearly basis, the nation’s GDP rose 3.3 percent, the quickest pace since the third quarter of 2014.
The economy, however, remained sluggish, moving mostly under 1 percent in quarterly movement over the last two years.
Private consumption was up by 1 percent from the previous quarter and 3.3 percent on year. Capital investment rose 2.8 percent compared to the previous quarter, but shrank 2.7 percent from a year ago.
Exports grew 1.1 percent on quarter and 1.9 percent on year led by recovery in semiconductor and petrochemical demand.
The second-quarter real gross national income (GNI) decreased 0.4 percent from the previous three-month period owing to worsening terms of trade, volatile oil prices and, increased corporate dividend payouts. The quarterly drop is the first since the third quarter in 2014.
By Lee Sang-duk
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