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S.Korea's revised GDP grows 2.0 pct in 2019
Last Updated: 2020-03-03 12:11 | Xinhua
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Revised figure for South Korea's real gross domestic product (GDP), adjusted for inflation, grew 2.0 percent in 2019 from the previous year, central bank data showed Tuesday.

It was unchanged from the preliminary reading released in January, according to the Bank of Korea (BOK).

The real GDP expanded 1.3 percent in the October-December quarter from three months earlier, up 0.1 percentage point from the preliminary figure.

Facility investment, private consumption and investment in the construction sector were all revised up for the fourth quarter.

Nominal GDP amounted to 1,914 trillion won (1.6 trillion U.S. dollars) in 2019, up 1.1 percent from the prior year. It was the lowest increase in 21 years since 1998 when the foreign exchange crisis hit the export-driven economy.

GDP deflator, or the ratio of nominal GDP to real GDP, declined 0.9 percent in 2019 from the previous year, marking the first fall in 13 years.

Per-capita gross national income (GNI) in terms of the U.S. dollar was 32,047 U.S. dollars in 2019, down 4.1 percent from a year earlier.

It was the biggest decline in 10 years since 2009 as the local currency's depreciation lowered the dollar-denominated GNI.

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