South Korea’s economy grew rapidly in the first quarter of the year 2010. The economy grew by 1.8% in the first three months of the year. Analysts did not expect that and are astonished by the sharp export rise. They forecast that the economy will expand this year at its fastest rate since 2006.
In the previous quarter, the fourth quarter of 2009, the economy only grew by 0.2%. So there is an increase of 1.6%, which is good considering the crisis.
The government has boosted the economy by low interest rates and stimulus measures. Because of that South Korea has recovered strongly from the economic downturn that took place all over the world.
The exports helped a lot to make this grow possible. It rose by 3.4% in the first quarter, because of that the overall economic growth rose by 1.8%.
Despite of the strong recovery of South Korea, the government should not stop to help the economy. The stimulus measures are still needed.
The government in South Korea did good by stimulating the economy. They did better than expected so the measures where successful. However they had a little bit of luck that there export rose that much otherwise it would not been possible to have a 1.8% growth of their economy.
Thibaut Delsoir
Source: http://news.bbc.co.uk/2/hi/business/8645959.stm
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I do agree with Thibaut. South Korea took some good measures to boost their economy after the downturn.
BeantwoordenVerwijderenGood blog!
BeantwoordenVerwijderenI completely agree with you! South Korea did a good job by boosting the economy.