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Economy Grows 0.6% in Q3

Written: 2023-12-05 08:37:03Updated: 2023-12-05 15:00:07

Economy Grows 0.6% in Q3

Photo : YONHAP News

The South Korean economy grew zero-point-six percent in the third quarter.

According to tentative data by the Bank of Korea on Tuesday, the country's real gross domestic product(GDP) increased zero-point-six percent while the nominal GDP grew two-point-two percent on-quarter in the July-to-September period, matching earlier estimates.

The real GDP posted growth for the third consecutive quarter after shrinking zero-point-three percent in the last months of 2022 due to sluggish exports.

Private consumption increased zero-point-three percent in the third quarter, while facility investment decreased two-point-two percent.

Exports grew three-point-four percent, while imports gained two-point-three percent in the cited period. 

The country's real gross national income increased zero-point-five percent on-quarter in Q3. 

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