emirates7 - South Korea’s economy grew by 0.6 percent in the second quarter of the year, driven by a rebound in consumer spending and strong export performance, according to data released Thursday by the Bank of Korea (BOK).

The country’s real gross domestic product (GDP)—a key indicator of economic activity—rose 0.6 percent between April and June, bouncing back from a surprise 0.2 percent decline in the first quarter, Yonhap News Agency reported, citing preliminary figures from the central bank.

The second-quarter growth slightly outpaced analysts’ expectations of a 0.5 percent increase.

Compared to the same period last year, GDP grew by 0.5 percent in Q2, following zero year-on-year growth in the first quarter.

Exports rose 4.2 percent from the previous quarter, fueled by strong global demand for semiconductors and petrochemical products.

Household consumption increased 0.5 percent, with higher spending on cars and cultural activities, while government expenditure rose by 1.2 percent. However, investment in facilities and construction both declined by 1.5 percent.

The BOK noted that net exports and domestic demand each added 0.3 percentage points to the overall GDP growth in the second quarter.

The central bank previously projected South Korea’s economy to grow by 0.8 percent in 2025, following a 2 percent expansion in 2024.