DHAKA: South Korea’s economy grew at its slowest pace for three years in 2012, as the global downturn dampened exports and domestic demand, the central bank said Thursday.
Asia’s fourth largest economy grew by 2.0 percent over the previous year - the slowest pace since a 0.3 expansion in 2009.
The preliminary figure from the Bank of Korea showed a slight acceleration in the fourth quarter, with gross domestic product up 0.4 per cent from the July-September period.
Exports, however, which account for nearly half the national GDP, slipped 1.2 percent from the third quarter due to falling shipments of machinery and ship vessels, reports The Straits Times.
BDST: 1025 HRS, JAN 24, 2013
Edited by Robab Rosan, Cultural Affairs Editor- firstname.lastname@example.org
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