Financial News: South Korea GDP Expands 0.6% In Q2

South Korea GDP Expands 0.6% In Q2

07/23/2025 - 19:47:00 (RTTNews)

(RTTNews) - South Korea's gross domestic product improved a seasonally adjusted 0.6 percent on quarter in the second quarter of 2025, the Bank of Korea said on Thursday.

That was in line with expectations following the 0.2 percent contraction in the previous quarter.

Real gross domestic income increased by 1.3 percent compared to the first quarter.

On an annualized basis, GDP improved 0.5 percent - exceeding forecasts for an increase of 0.4 percent following the flat reading in the three months prior.

On the expenditure side, private consumption increased by 0.5 percent, as expenditures on goods and services increased. Government consumption rose by 1.2 percent with increased expenditures on health care benefits.

Construction investment shrank by 1.5 percent as building construction and civil engineering both decreased. Facilities investment fell by 1.5 percent, as machinery and transportation equipment both decreased.

Exports increased by 4.2 percent, as exports of semiconductors, petroleum products, and chemical products increased. Imports were up by 3.8 percent, mainly due to an increase in energy items.

On the production side, agriculture, forestry & fishing shrank by 1.4 percent, mainly due to a decrease in fishing yield. Manufacturing rose by 2.7 percent, centered on increases in computer, electronic & optical products.

Electricity, gas and water supply shrank by 3.2 percent, largely as a result of a decrease in electricity. Construction declined by 4.4 percent as building construction and civil engineering both decreased.

Services expanded by 0.6 percent, centered on increases in wholesale and retail trade, accommodation and food services and real estate, offsetting a decrease in information and communication.

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