Korea’s economy grows 0.3% in Q1 2023 (advance estimate)
Koreas real gross domestic product (GDP) rose 0.3 percent quarter-on-quarter in the first quarter of 2023, according to the advance estimate released by the Bank of Korea (BOK) on April 25. The Korean economy grew 0.8 percent year-on-year. On the production side, agriculture, forestry fisheries fell 2.5 percent quarter-on-quarter as crop yields decreased. Manufacturing rose 2.6 percent as transportation equipment and primary metals increased. Electricity, gas water supply fell 2.0 percent as gas supply declined. Construction rose 1.8 percent backed by building construction. Services fe...