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SOUTH KOREA FALLEN INTO RECESSION AS EXPORTS SLUMP

Published On 23 Jul 2020 07:02 AM


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Highlights:

  • South Korea’s Gross Domestic Product (GDP) has plummeted worse-than-expected i.e. 2.9% in year-on-year terms.
  • Exports, which account for 40% of the economy has experienced the largest fall since 1963.
  • The government of South Korea has so far implemented about 277 trillion won worth of stimulus measures to manage the effects of coronavirus pandemic on the economy.
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    Tags : South Korea, recession, slump, exports, economy ,
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