▶Real Gross Domestic Product: 1st Quarter of 2018 (Advance Estimate)
- Real gross domestic product (chained volume measure of GDP) grew by 1.1 percent in the first quarter of 2018 compared to the previous quarter. Real gross domestic income (GDI) increased by 1.8 percent during the same period.
- On the expenditure side, private consumption expanded by 0.6 percent, with durable goods rising. Government consumption increased by 2.5 percent, due to the expansion of expenditure on health care benefits.
- Construction investment was up by 2.8 percent, as investment in building construction increased.
- Facilities investment rose by 5.2 percent, led by the growth of investment in machinery and transportation equipment.
- Exports expanded by 4.4 percent, with increases in exports of chemical products and machinery & equipment. Imports also rose by 5.5 percent, owing to expansions in imports of natural gas and machinery & equipment.
- On the production side, agriculture, forestry & fishing production grew by 6.5 percent, centering around livestock production and fishing.
- Manufacturing rose by 1.9 percent, with increased production of machinery & equipment.
- Electricity, gas & water supply contracted by 5.5 percent, mainly due to a decline in electricity production.
- Construction expanded by 3.3 percent, with increases in residential and nonresidential building construction.
- Services rose by 0.9 percent, led by growth in real estate & leasing and cultural & other services, offsetting declines in wholesale & retail trade and restaurants & hotels.
-Real GDP (chained volume measure of GDP) increased by 2.8 percent year on year in the first quarter of 2018.
(Source: The Bank of Korea, 25/04/2018)
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