South Korea GDP Expands 0.3% in Q4


The Gross Domestic Product grew by 0.3 percent quarter-on-quarter in the fourth quarter of 2012. GDP increased by 1.5 percent year-on-year in the last quarter of 2012. South Korea GDP rose by 2.0 percent in 2012.

On the expenditure side, private consumption increased by 0.8 percent quarter-on-quarter as expenditures on semi-durables such as clothing and footwear, and on telecommunications service increased. Facilities investment decreased by 1.8 percent as investment in machinery including semiconductor manufacturing equipment declined. Construction investment dropped by 1.2 percent.

Exports fell by 1.1 percent led downward by those of general machinery and ships, and imports by 0.8 percent centering around crude oil, natural gas and metal products.
 
On the production side, agriculture, forestry and fishing rose by 7.9 percent. Manufacturing increased by 0.2 percent due to gains in semiconductors and mobiles. Construction decreased by 1.2 percent as non-residential building construction was subdued. Services grew by 0.4 percent.

Bank of Korea | Nuno Fontes | nuno@tradingeconomics.com
3/26/2013 11:26:05 AM