Arab Today, arab today south korean economy grows only 05 in q1
Last Updated : GMT 12:33:12
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Arab Today, arab today

South Korean Economy Grows only 0.5% in Q1

Arab Today, arab today

Arab Today, arab today South Korean Economy Grows only 0.5% in Q1

South Korean
Seoul - QNA

The South Korean economy grew only 0.5% in the first quarter of this year.

    The Bank of Korea (BOK) said Thursday that the nation's gross domestic production (GDP) stood at 372.4 trillion won, or around 312 billion US dollars, from January to March this year, according to (KBS World) website. The figure is up 0.1% from the previous estimate announced in April due in part to increased government spending and investment in construction.

    But the first quarter growth is the lowest since the second quarter of last year when it was jolted by the spread of Middle East Respiratory Syndrome (MERS). The economic growth rate has been hovering below 1% for seven quarters with the exception of the 1.2% growth seen in the third quarter in 2015.

 

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