Bank of Korea advance estimate shows second quarter real GDP up 0.6 percent on quarter and 3.7 percent on year

The Bank of Korea published its advance estimate for second quarter 2026 national accounts, showing real gross domestic product rose 0.6 percent from the previous quarter and 3.7 percent from a year earlier. Real gross domestic income increased by 3.6 percent quarter on quarter and 15.6 percent year on year. On the expenditure side, growth was supported by private consumption, exports and investment in intellectual property products. Private consumption rose 0.4 percent as spending on goods and services increased, while government consumption edged up 0.2 percent on higher health care benefit spending. Construction investment fell 0.2 percent as civil engineering declined, but facilities investment increased 0.2 percent and intellectual property products investment climbed 3.3 percent, driven by research and development and software. Exports rose 1.4 percent on higher shipments of semiconductors and machinery and equipment, while imports increased 0.8 percent, mainly reflecting motor vehicles and machinery and equipment. On the production side, manufacturing expanded 1.2 percent and services grew 1.1 percent, led by wholesale and retail trade, accommodation and food services, finance and insurance, and information and communication. These gains were partly offset by a 7.1 percent fall in agriculture, forestry and fishing, a 1.9 percent decline in construction and a 1.3 percent drop in electricity, gas and water supply.