South Korea's economy hit a seven-year high in the third quarter on strong exports. 
 
According to advance estimates by the Bank of Korea on Thursday, the country's gross domestic product(GDP) reached 392-point-67 trillion won in the July-September period, up one-point-four percent on-quarter.
 
The growth is faster than the previous quarter's point-six percent gain and also the fastest since the second quarter of 2010, when the economy expanded one-point-seven percent.

The economy grew three-point-six percent in the third quarter from a year earlier. 
 
With the strong gains, the nation' economic growth is almost certain to surpass three percent this year, which is the government's target and growth estimate by the central bank. 

If there is no growth in the fourth quarter, the annual growth rate will still reach three-point-one percent.  

Exports led growth in the third quarter, increasing six-point-one percent during the latest three-month period, putting in the fastest growth in six and a half years. 

Imports increased four-point-five percent. Government spending rose two-point-three percent, rising at the fastest pace since the first quarter of 2012 on higher health insurance payments, implementing the supplementary budget and job projects. 

Although construction investment grew only one-point-five percent, it was more robust than market expectations for a sharp slowdown. Facilities investment rose point-five percent while private consumption inched up point-seven percent. 

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