Menu Content
Go Top

Economy

S. Korea's Economy Grows 1.4% in 2023

Written: 2024-03-05 09:37:48Updated: 2024-03-05 10:39:10

S. Korea's Economy Grows 1.4% in 2023

Photo : YONHAP News

Korea’s central bank has announced that the economy grew one-point-four percent last year from a year earlier. 

According to the Bank of Korea on Tuesday, the nation’s real gross domestic product(GDP) grew one-point-four percent and gross national income(GNI) per capita came to 33-thousand-745 U.S. dollars in 2023, up two-point-six percent from a year earlier. 

The per-capita GNI surpassed the 30-thousand dollar mark for the first time in 2017,and climbed as high as 35-thousand-523 dollars in 2021. The figure then slipped seven-point-four percent in 2022 but turned upward again last year. 

In the fourth quarter of last year, real GDP grew zero-point-six percent from the previous quarter and the per capita GNI edged up zero-point-one percent quarter-on-quarter. 

The country's exports climbed three-point-five percent in the fourth quarter, while imports also increased one-point-four percent.

Editor's Pick

Close

This website uses cookies and other technology to enhance quality of service. Continuous usage of the website will be considered as giving consent to the application of such technology and the policy of KBS. For further details >