South Korea GDP Expands 0.9% QoQ in Q1 2013

In the first quarter of 2013, South Korea real GDP grew by 0.9 percent from the previous quarter, according to advance estimates released by The Bank of Korea. Private consumption declined by 0.3 percent while exports grew by 3.2 percent.

Real GDP (chained volume measure of GDP) grew by 0.9 percent in the first quarter of 2013 compared to the previous quarter.

On the expenditure side, private consumption decreased by 0.3 percent, as expenditures on durables and semi-durables declined.

Construction investment increased by 2.5 percent, centering around residential building construction and civil engineering.

Facilities investment grew by 3.0 percent, led by investment in machinery and transport equipment.

Exports grew by 3.2 percent and imports by 2.5 percent, centering around exports of petrochemical products and imports of electrical machine and petrochemical products.

On the production side, agriculture, forestry & fishing decreased by 4.5 percent, due to sluggish fishing sector.

Manufacturing grew by 1.4 percent in line with increased production of petrochemical products and ships.

Construction increased by 3.7 percent, led by residential building construction and civil engineering.

Services grew by 0.7 percent, as gains in transport & storage, information & communication and health & social work offset declines in financial intermediation.

Real gross domestic income (GDI) increased by 1.0 percent.

On a year-over-year basis, real GDP (chained volume measure) increased by 1.5 percent.

The Bank of Korea | Joana Taborda |
4/25/2013 12:29:35 AM