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South Korea’s Q2 economic growth is up 0.7%

by ChemOrbis Editorial Team - content@chemorbis.com
  • 26/07/2016 (14:18)
According to data released by South Korea’s central bank, the Bank of Korea (BOK), the country’s economic growth was below 1% for the third consecutive quarter and this situation raised concerns regarding the extended low-growth trend.

South Korea’s gross domestic product (GDP) growth rate rose 0.7% on a seasonally adjusted basis in the second quarter from the prior quarter and reached 375.04 trillion won (328.7 billion U.S. dollars), after posting a 3.2% expansion in the second quarter of 2015.

During the April-June period, exports rose 0.9% when compared to the first quarter on the back of demand for semiconductors, oil and chemical products. Imports also increased 1.9%. Facility investment posted a 2.9% increase in the second quarter while investment in the construction sector is also up 2.9% during the same period.
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