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.


South Korea GDP Expands by 0.1 Percent in Q3


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