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South Korea records lowest Q1 economic growth among major economies
The Northlines
|12 May 2025
South Korea posted the lowest economic growth among 19 major economies in the first quarter, data showed on Sunday, amid a domestic political crisis and uncertainties caused by US President Donald Trump's administration's sweeping tariff policies.
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The country’s real gross domestic product (GDP) ~ a key measure of economic growth — shrank by 0.246 percent in the January-March period from a quarter earlier, according to the data from the Bank of Korea (BOK).
It marked the weakest performance among the 19 major nations that have released their first-quarter growth figures, including the United States, Canada, France, Germany and China, reports Yonhap news agency.
Ireland recorded the highest growth rate at 3.219 percent, followed by China with 1.2 percent and Indonesia with 1.124 percent.
Spain, which has a similar GDP to South Korea, ranked fourth with a growth rate of 0.568 percent. Canada logged a 0.4 percent expansion in the first quarter,
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