Seoul - South Korea's economy grew 0.8 per cent from the first quarter to the second quarter as robust exports made up for a drop in consumer spending, the central bank said Friday.

The gross domestic product saw a 4.8-per-cent increase from 2007's second quarter, down from the 5.8-per-cent jump between 2007's and 2008's first quarters, the Bank of Korea said.

Exports of goods, which account for about 40 per cent of South Korea's GDP, rose 3.7 per cent in the second quarter from the quarter before after falling 1.3 per cent in the first quarter.

Consumer spending saw a drop of 0.1 per cent after rising 0.6 per cent in the first quarter.

Because of high raw materials prices, South Korea's government at the beginning of this month revised downward its 2008 growth projections. The Finance Ministry said it expected growth in the range from 4.5 to 5 per cent after an initial prediction of 6 per cent.

Last year, Asia's fourth-largest economy grew 5 per cent and 5.1 per cent in 2006. (dpa)