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Korea ranks fourth in fourth quarter growth rate among OECD Countries
April 12, 2005
South Korea posted the fourth-highest gross domestic product (GDP) growth rate among 30 member countries of the Organization for Economic Cooperation and Development (OECD), the OECD said quoting a report.
Korea and the United Stated shared fourth place with a 0.9 percent growth quarter-on-quarter, following the rate of Norway at 1.5 percent, Slovakia at 1.4 percent and Czech at 1 percent.
Spain and France came sixth with a 0.8 percent rate of growth. Britain and Denmark posted a 0.7 percent growth and Japan marked a rise of 0.1 percent.
"In terms of quarter-on-quarter growths, the nation's fourth quarter performance was much better than most OECD members," a Bank of Korea official said.
Meanwhile, Korea recorded a 3.3 percent GDP growth during the fourth quarter.