Economic growth rate of 1.1% in 1Q ... sure to achieve 3% this year

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Economic growth rate of 1.1% in 1Q ... sure to achieve 3% this year

NSP NEWS AGENCY, By YEON SUN HAN Journal, 2018-04-30 23:18 END7

(Seoul=NSP News Agency) YEON SUN HAN Journalist = Korea's economy grew 1.1% in the first quarter of this year with the strong exports and growing facility investment that exceed expectations. It seems that 3% growth will be achieved surely this year.

According to the gross domestic product (GDP) in the first quarter by Bank of Korea (BOK), GDP in the first quarter increased to 395trillion and 932.8 billion won (seasonally adjusted basis), an 1.1 percent increase from the previous quarter.

Real GDP, which recorded negative 0.2% in the fourth quarter of last year, was converted back to positive. Compared to the same period last year, it rose by 2.8%.

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This real GDP is exceeding 1%, market expectation. If this growth continues, it seems that the BOK will be able to achieve a 3% annual growth rate.

Meanwhile, real Gross Domestic Income(GDI) in the first quarter increased 1.8% compared to last quarter,.

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