South Korea Q1 GDP unexpectedly contracts 0.2% q/q as exports cool

SEOUL, April 24 (Reuters) - South Korea's economy unexpectedly contracted in the first quarter as U.S. President Donald Trump's protectionist policies began to hit exports, advanced central bank estimates showed on Thursday.

Gross domestic product (GDP) contracted 0.2% from a quarter earlier on a seasonally adjusted basis, compared with an increase of 0.1% in the fourth quarter and the 0.1% growth forecast in a Reuters survey.

On an annual basis, the economy contracted 0.1%, also weaker than an expansion of 0.1% seen in the poll and down sharply after growing 1.2% in the previous quarter.