South Korea pulls off 3rd highest economic growth among G20 members in Q3
According to findings by the Organization for Economic Cooperation and Development the gross domestic product of Asia's fourth-largest economy advanced 1.5 percent compared to the previous quarter. This placed it after 1.7-percent growth posted by China and 1.6 percent tallied for India, Yonhap reports.
The latest findings showed that in terms of growth, the country advanced 0.9 percentage point in the July-September period which is the sharpest gain among the systemically important industrialized and developing economies that were checked.
The high ranking can be attributed to the country's solid growth coupled with slower growth by other G20 member states. South Korea's exports surged in the quarter on strong overseas demand for computer chips, with a rise in facilities investment further propping up growth.
Countries like Australia, South Africa and Turkey that posted solid growth in the second quarter backtracked in the three-month period.
