S. Korea’s economy grows at faster pace in 2014
by ChemOrbis Editorial Team - content@chemorbis.com
According to data compiled by the Bank of Korea (BOK), South Korea’s economy grew at a faster pace in 2014. The country’s gross domestic product (GDP) increased 3.3% in 2014 compared with a growth rate of 2.9% in 2013.
However, on a quarterly basis, South Korea’s economic growth slowed to 0.3% in the last quarter from 0.8% in the third quarter.
The data also showed that private consumption rose 1.8% in 2014 after increasing 1.9% in the preceding year while exports rose 2.8%.
However, on a quarterly basis, South Korea’s economic growth slowed to 0.3% in the last quarter from 0.8% in the third quarter.
The data also showed that private consumption rose 1.8% in 2014 after increasing 1.9% in the preceding year while exports rose 2.8%.
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