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Korea GDP Up 1.2% Q/Q In December Quarter 2020

KOREA
MNI (Singapore)
  • Korea's real gross domestic product (real GDP, chained volume measure of GDP) increased by 1.2% in the fourth quarter of 2020 compared to the previous quarter, 0.1% points higher than the advance estimate.
  • Real GDP decreased by 1.2% year on year in the fourth quarter of 2020 and decreased by 1.0% in 2020.
  • Real gross national income (real GNI) increased by 1.4% in the fourth quarter of 2020 compared to the previous quarter.
  • Manufacturing rose by 3.0%, and construction expanded by 2.2%.
  • Private consumption contracted by 1.5%, and government consumption fell by 0.5%, with decreased expenditures on goods and health care benefits.
  • Exports increased by 5.4%, as exports of goods such as semiconductors and chemical products expanded while imports were up by 2.2 percent, owing to increased imports of machinery & equipment and primary metal products.

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