The central bank said the economy grew four percent last year to post the largest growth in eleven years.

According to tentative data by the Bank of Korea(BOK) on Tuesday, the country's real gross domestic product grew four percent in 2021 from a year earlier.

The figure matches the BOK's estimate and marks the highest growth since 2010, when the economy expanded six-point-eight percent. The economy rebounded last year after shrinking by point-nine percent in 2020 due to the fallout of the COVID-19 pandemic.  

The growth was led by a recovery in private consumption and exports, which grew by three-point-six percent and nine-point-seven percent on-year, respectively.  

For the fourth quarter of last year, the GDP grew one-point-one percent on-quarter, accelerating from a rise of zero-point-three percent in the previous quarter.