South Korea's economic growth in shock due to oil supply disruption
The oil supply shock is likely to weigh heavily on South Korea's current quarterly growth, as its GDP contracted in the final quarter of last year, at a slightly slower pace than originally estimated. The contraction is due to weaker investment and exports. It follows a sharp expansion in the third quarter, when the government rolled out stimulus policies to boost domestic demand. Krystal Tan, an economist at ANZ, shares her insights on the latest impact of oil prices on South Korea.
The oil supply shock is likely to weigh heavily on South Korea's current quarterly growth, as its GDP contracted in the final quarter of last year, at a slightly slower pace than originally estimated. The contraction is due to weaker investment and exports. It follows a sharp expansion in the third quarter, when the government rolled out stimulus policies to boost domestic demand. Krystal Tan, an economist at ANZ, shares her insights on the latest impact of oil prices on South Korea.
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