yunhap newsAs the Korean economy grew 1.1% in the fourth quarter of last year, the overall annual growth was 4.0%, barely keeping the 4% set as the growth target.
The Bank of Korea (BOK) announced on the 25th that in the ‘Fourth quarter of 2021 and Annual Real Gross Domestic Product’ released on the 25th, GDP in the fourth quarter of last year grew by 1.1% compared to the third quarter and by 4.1% from the fourth quarter of last year.
As a result, for the year of last year, it grew by 4.0% compared to the previous year, which was set as the growth target.
Real GDP grew by 1.7% in the first quarter of last year and grew by 0.8% in the second quarter, and then fell to 0.3% in the third quarter. achieved
By expenditure category, the Bank of Korea revealed that private consumption and exports continued to increase while facility investment and government consumption continued to increase.
Meanwhile, GDI, or real gross domestic income, increased by 3.0% compared to the previous year. Real gross domestic income is an income indicator that shows the real purchasing power of income generated through production activities.