Korea’s GDP grew by 1.7% during the first quarter
SEOUL, April 23 / WAM / The economy of the Republic of Korea recorded its fastest quarterly growth in five and a half years in the first quarter of this year, supported by strong exports and stable domestic demand, according to Central Bank of Korea data issued today, Thursday.
The Korean Yonhap News Agency reported that the country’s real gross domestic product, a key indicator of economic growth, grew by 1.7% during the period from January to March 2026 compared to the same period of the previous year, according to preliminary data issued by the bank.
The data showed that exports rose by 5.1% compared to the previous quarter, driven by strong global demand for semiconductors, recording the fastest growth since the third quarter of 2020.
It also showed that the economy grew by 3.6% during the first quarter on an annual basis, compared to 1.6% in the previous quarter.
She indicated that real gross domestic income increased by 7.5% in the first quarter, recording its highest level since the first quarter of 1988, when it reached 8%.
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