(MENAFN) According to data by the South Korean central bank, the country's economy expanded by 3.3 percent last year, following an increase of 2.9 percent in 2013, Xinhua reported.
The Bank of Korea (BOK) said that real gross domestic product (GDP) surged by 3.3 percent in 2014 with the private consumption and exports kept their upwardly trend.
In terms of quarters, the real GDP growth maintained a falling trend from 1.1 percent in the first quarter to 0.8 percent in the third quarter and 0.3 percent in the final quarter of 2014.
The South Korean private consumption soared 1.8 percent last year, dropping from 1.9 percent registered in 2013. Meanwhile, exports declined from 4.3 percent to 2.8 percent.
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