South Korea GDP Expands by 0.1 Percent in Q3


Real gross domestic product (chained volume measure of GDP) grew by 0.1 percent quarter-on-quarter in the third quarter of 2012. Real GDP (chained volume measure of GDP) increased by 1.5 percent year-on-year in the third quarter of 2012.

On the production side, manufacturing decreased by 0.4 percent owing to declines in sub-sectors such as transport equipment, precision instruments and non-metallic minerals. The manufacturing sector grew by 1.1 percent year-on-year, centering around petroleum & chemical products and electrical & electronic equipment.

On the expenditure side, private consumption rose by 0.7 percent, as expenditures on durables such as mobile phones and non-durables such as electricity, gas & other fuels increased. Private consumption increased by 1.6 percent year-on-year, led by expenditures on durables such as mobile phones and on non-durables such as electricity, gas & other fuels.

Exports grew by 2.8 percent quarter-on-quarter, as those of petroleum products and of wireless telecommunication devices increased. Year-on-year, exports rose by 2.9 percent centering around petroleum products, and imports by 1.1 percent owing to increases for example in imports of crude oil and natural gas.


Bank of Korea | Andre Crujo | andre@tradingeconomics.com
12/14/2012 5:27:05 PM