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South Korea's real Gross Domestic Product rose 1.1% q/q in the fourth quarter of 2020, slowing from +2.1% in the third quarter as exports lost momentum, according to data released by the Bank of Korea on Tuesday.
Exports of goods and services in the fourth quarter rose 5.2% q/q, slowing from a 16.0% gain in the third quarter.
Private consumption also slowed to -1.7% in the fourth quarter after being unchanged in the third quarter, hit by a third wave of coronavirus infections.
Annualised GDP in 2020 also slowed to -1.0% from +2.0% in 2019.