SOUTH KOREA
rebounded from recession in the third quarter, enjoying the fastest
export-growth in decades, reports Bloomberg News.
Gross domestic product increased 1.9 per cent
in the three months through September from the prior quarter, the Bank of Korea
reported.
Exports increased the most since 1986. Economists had
forecast an overall growth rate of 1.3 per cent, following two quarters of
contraction. Compared with the same period last year, the economy shrank 1.3
per cent.
A late summer resurgence of the virus that led to tighter
social distancing rules in South Korea has eased in recent weeks, giving relief
to consumers whose spending is likely to pick up after slipping last quarter.
South Korean President Moon Jae-in has
said the country should seize the chance to restart its recovery.
On the trade front, South Korean memory chips and
electronics have benefited from a shift to work-and study-from-home during the
Covid crisis.
A rebound in China, South Korea's biggest trading partner,
is also supporting recovery, although the export-dependent economy remains
vulnerable to disruptions in the US and Europe, where the epidemic is
worsening.
Source : HKSG / Map : Geopolitica.ru.
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