South Korea’s economy expanded at its fastest pace in nearly four years in the third quarter, fueled by strong exports and a rebound in consumption and investment.

Preliminary data from the Bank of Korea(BOK) released Wednesday showed real gross domestic product(GDP) rose one‑point‑three percent from the previous quarter during the July–September period.

The figure is zero-point-one percentage points higher than the BOK’s earlier estimate and marks the strongest quarterly growth since the fourth quarter of 2021, when GDP climbed one‑point‑six percent.

The economy has rebounded after shrinking by zero‑point‑two percent in the first quarter, growing zero‑point‑seven percent in the second quarter and one‑point‑three percent in the third.

The BOK projects that annual growth could reach about one percent in 2025.

Real gross national income rose zero‑point‑eight percent in the third quarter from three months earlier.