South Korea economy bounces back on pickup in exports

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South Korea's gross domestic product expands 1.9% in the 3rd quarter of 2020, a significant improvement after the 3.2% contraction in the 2nd quarter.

Asia's 4th largest economy returned to quarter-on-quarter growth in the July to September period, South Korea's central Bank of Korea announced on Tuesday, October 27.

It is now widely expected to see one of the least bad 2020 economic performances among the Organisation for Economic Co-operation and Development group of developed economies. The quarter-on-quarter figure represented a significant improvement on the 3.2% contraction in April-June and was the best since the first 3 months of 2010.

 

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