South Korea GDP up revised 6.2% in 2010
2011-03-30 17:33:42
South Korea's economy grew by 6.2% in 2010 in the fastest expansion for eight years, the central bank said Wednesday after revising an earlier estimate of 6.1%.
The bank also raised gross domestic product growth for 2009 to 0.3% from its earlier projection of 0.2%.
"The growth of the Korean economy accelerated last year, helped by a sharp upturn in facilities investment, expanded exports and a pickup of growth in private consumption," the Bank of Korea said in a statement.
In the fourth quarter last year the economy expanded 0.5% from three months earlier, in line with the earlier estimate.
Compared with a year earlier, it grew 4.7% in the final quarter -- less than a previous estimate of 4.8%.
Last year's growth in Asia's fourth largest economy was the fastest since 2002, when the economy expanded 7.2%.