본문 내용으로 건더뛰기

KDI 경제정보센터

ENG
  • Economic

    Information

    and Education

    Center

News Briefing
Korea grows 3.1% in Q1 2022
May 2022
Korea’s real gross domestic product (GDP) expanded 3.1 percent year-on-year in the first quarter of 2022, according to the Bank of Korea’s advance estimate released on April 26. The Korean economy grew 0.7 percent quarter-on-quarter.

On the production side, agriculture, forestry & fisheries rose 4.1 percent quarter-on-quarter backed by animal products. Manufacturing went up 3.4 percent as computer, electronic & optical products and chemical products rose. Construction went down 0.6 percent as both building construction and civil engineering works fell. Services dropped 0.1 percent as transportation & storage, entertainment & leisure services and other services fell.

On the expenditure side, private consumption fell 0.5 percent and government spending remained unchanged. Construction investment went down 2.4 percent as both building construction and civil engineering works decreased. Facility investment fell 4.0 percent as both machinery and transportation equipment dropped. Exports grew 4.1 percent backed by strong semiconductors and chemical products, and imports grew 0.7 percent led by crude oil.