The Korea Herald


[Monitor] Korea outperforms other OECD countries in GDP growth in Q2

By Korea Herald

Published : Oct. 5, 2020 - 11:01

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Data released by the Bank of Korea on Sunday showed that South Korea performed better than other major countries in the second quarter in terms of gross domestic product growth.

According to the BOK, Korea’s economy receded 3.2 percent on-year in the April-June period, but leaped to second place from the previous quarter’s 12th place.

The list comprised the GDP growth rates of 36 countries that are members of the Organization for Economic Cooperation and Development, plus China and Russia.

China ranked No. 1 on the list with an 11.5 percent increase in its GDP growth rate. Russia was tied with Korea.

The data did not reflect the enhanced social distancing guidelines that took effect in the third quarter in Korea, which may have dampened consumer sentiment.