South Korea grew above expectations
South Korea’s GDP increased by 3.4 percent in the first quarter, the fastest quarterly growth since the 4th quarter of 2021.
South Korea reported 3.4 percent GDP growth in the first quarter; This surpassed economists’ expectations of 2.4 percent, recording the highest quarterly growth since the fourth quarter of 2021.
On a quarterly basis, GDP increased by 1.3 percent, exceeding economists’ expectations of 0.6 percent.
Exports from South Korea increased by 0.9 percent in the first quarter, driven by increased exports of products such as mobile phones. Imports contracted by 0.7 percent due to the decrease in electronic equipment imports.