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South Korea's Q1 GDP Growth Beats Expectations at 1.7% Quarter-over-Quarter, 3.6% Year-over-Year

GateNews
Macroeconomics

Gate News message, April 23 — South Korea’s central bank released preliminary data showing first-quarter GDP growth of 1.7% quarter-over-quarter, significantly exceeding market expectations of 0.9% and rebounding sharply from the previous quarter’s 0.2% contraction.

Year-over-year growth reached 3.6%, marking the fastest pace since Q4 2021 and surpassing the forecast of 2.7%. The expansion was driven by recovering exports fueled by artificial intelligence demand and steady domestic consumption growth.

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