Advance Estimate Real GDP Q4 and Annual 2021
- Grew 1.1% quarter-on-quarter in the Q4 of 2021
- Showing fastest recovery among G20 countries
- Recovery Trend
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The economy rebounded strongly in the Q4 of 2021 compared th the slower growth in Q3.
Despite Covid-19 resurgence and prolonged supply chain disruptions, a strong improvement in private consumption, fical soundness and exports contributed to the economic rebound in the Q4.
- Global Comparison
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The Korean economy achieved the "fastest pace of recovery" among G20 members
With the minimized negative growth (down 0.9%) in 2020 and the economic rebound (up 4%) in 2021
As a result , Korea maintained top 10 in global GDP renkings to surpass US$35,000 IN 2021.
- Components of Economic Growth
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The balanced contribution by domestic demand, exports investment and fiscal spending led the economic growth.
The growth in the Q4 was achieved thanks to solidarity among households, businesses and the government efforts.