South Korea's economy to grow 2.7% in 2013

By bne IntelliNews July 3, 2013

South Korea's economy is projected to grow 2.7% this year, as compared to 2.3% forecasted in March, as the government expects stimulus efforts to start taking effect on a full scale later in the year. According to the Ministry of Strategy and Finance, the country revised up its growth projection for this year and registered a record-high monthly current account surplus, indicating the resilience as well as the impact of stimulus on the economy.

The strong exports assisted balloon the current-account surplus to USD 8.64bn in May, which was the biggest monthly amount on record and more than double than April. The country’s economy is likely to gradually accelerate on improving external conditions and stimulus policy effects are starting in earnest.

Related Articles

Rosneft-led acquisition of India's Essar completed, says CEO Sechin

The acquisition of India's Essar Oil led by Russian oil major Rosneft can be “considered done”, the state-controlled company’s CEO Igor Sechin said at the annual shareholder meeting on June 22, ... more

Vietnam’s textile and garment exports to South Korea records USD 1.64bn in 2013

Vietnam’s textile and garment exports to South Korea expanded 53.5% y/y recording USD 1.64bn last year, while the nation overall exports to South Korea accelerated 18.9% y/y posting USD 6.6bn. The ... more

Vietnam, Kazakhstan to boost investment cooperation

Vietnam’s trade with Kazakhstan expanded USD 221.8mn during first eleven months last year. According to Erbolat Dossaev, Kazakh Minister of Economy and Budget Planning, Vietnam’s exports to ... more

Dismiss