National Income Statistics Team, Economic Statistics Department,
The Bank of Korea
Tel : 82-2-759-4366, 4383
Fax : 82-2-759-4387



Nominal Gross Nationl Income : Second Quarter 1999 (Preliminary)

 

     During the second quarter of 1999, Korean nominal gross national income(GNI) registered 113.5 trillion won, an increase of 5.6 percent compared with the same period of the previous year. Thus it turned positive for the first time since the first quarter of 1998.

     Looking at nominal GNI increase by kind of industry, the construction sector continued to slump, falling by minus 2.8 percent. However, agriculture, forestry and fishing production increased by 24.8 percent, manufacturing by 6.4 percent and services by 7.3 percent.

     The GDP deflator decreased 3.8 percent compared with the same period of the previous year. the deflator of domestic demand, which is the sum of final consumption expenditure and gross fixed capital formation, decreased 0.8 percent as against the same period of the previous year. That of the export of goods and services declined 23.3 percent year on year due to the fall in export prices and the appreciation of the Korean won.
    


1 9 9 8p

1999p

Year

1/4

2/4

3/4

4/4

1/4

2/4

Gross Domestic Product

-0.8

7.9

-1.0

-3.4

-5.2

-2.1

5.7

  Agriculture, forestry & fishing
  Manufacturing
  Electricity, gas & water
  Construction
  Services

-9.1
5.2
9.5
-13.7
-2.1

-24.5
21.0
13.2
-4.0
3.2

-22.5
5.1
15.8
-8.1 -3.4

-11.3
1.4
0.1
-17.1
-3.6

-1.2
-4.5
12.8
-21.3
-4.4

28.0
-5.5
15.6
-12.9
0.5

24.8
6.4
11.7
-2.8
7.3

Gross National Income

-1.7

7.2

-1.9

-4.2

-6.4

-2.1

5.6

 

<Table 2>  Increase Rate of GDP Deflator by Component of Expenditure 1)

unit : %           


1 9 9 8p

1999p

Year

1/4

2/4

3/4

4/4

1/4

2/4

Gross Domestic Product

5.3

11.9

6.7

3.9

0.1

-6.4

-3.8

 Final consumption expendtiture
    ( Private )
    ( Government )
 Gross fixed capital formation
    ( Construction )
    ( Machinery & equipment )
 Exports of goods & services
    ( Merchandise )
 Imports of goods & services
    ( Merchandise )

8.4
8.6
7.3
5.5
2.7
10.2
22.8
20.9
27.4
25.8

10.5
10.7
9.1
12.6
5.8
23.6
53.3
54.1
63.9
62.3

8.9
9.3
7.8
8.6
5.8
12.1
30.5
28.1
36.4
34.4

8.1
8.1
7.5
3.7
1.5
6.7
22.5
20.5
25.7
23.5

6.4
6.6
5.5
-1.5
-1.2
-2.6
-4.9
-8.0
-5.4
-7.2

-0.2
-0.2
-0.4
-3.2
2.1
-11.5
-34.2
-35.9
-35.8
-36.8

-0.7
-0.7
-1.5
-1.2
1.6
-5.1
-23.3
-24.6
-20.8
-21.3


The Bank of Korea