[스페셜타임스 정시환 기자] Hello, this is the video news team of Special Times, an internet media company.
This news is related to the rebound following three years of exceeding the $35,000 per capita income level last year.
Last year, Korea’s per capita GNI reached an all-time high of $35,000. This is the result of a combination of high inflation and a strong won, as well as a rebound in economic growth last year.
The Ministry of Strategy and Finance announced on the 3rd that the Korean economy achieved the fastest recovery among the G20 advanced countries in difficult circumstances last year, and achieved meaningful achievements, such as being settled in one of the top 10 global economic powerhouses, and per capita income exceeding $35,000.
Real GDP growth in the fourth quarter of last year was 1.2%, up 0.1%p from the preliminary estimate, and the growth rate was revised upward as the industrial production performance announced in December last year, which was announced following the preliminary estimate in January, was reflected.
In terms of expenditure, the contribution to net export growth increased by 0.3%p as export growth increased significantly from 4.3 to a provisional 5.0% and +0.7%p.
Last year’s annual growth rate also increased slightly, from 3.99 to 4.02%. Domestic export investment finances contributed evenly to the 4% growth. In particular, exports increased by 3.6%p, the largest increase since 2011.
Current GDP grew by 6.4%. Current GDP of KRW 205.7 trillion and KRW 1,797.8 billion increased to the highest level since 2010 (9.7%) as the real growth rate rebounded and the deflator increased. In terms of current GDP, it has firmly maintained its position in the global Top 10 for two consecutive years.
The overall increase in the GDP deflator, including export and domestic demand, expanded due to the rise in global semiconductor prices and the recovery of domestic demand.
Last year, Korea’s per capita GNI stood at $31,734 for the first time in 2017 at $30,000, then rose to $33,564 in 2018, then fell back to $32,204 in 2019 and $31,881 in 2020 for two consecutive years. However, as the economy recovered from the shock of Corona 19 last year and the won-dollar exchange rate fell by an average of 3% per year, it succeeded in rebounding for the first time in three years.
In particular, it is a very meaningful achievement in that it is the result of successfully responding to the unprecedented global corona crisis that has lasted for two years.
However, while exports have continued to brisk this year, the recovery of domestic demand has slowed due to the spread of Omicron, while internal and external uncertainties have greatly expanded due to disruptions in global supply chains, accelerated monetary policy transitions in major countries, and the Ukraine crisis.
Accordingly, the government has decided to concentrate its policy capabilities to continue the economic recovery through thorough internal and external risk management while making every effort to stabilize the livelihood of the people, such as supporting small business owners and preemptive price management.
It was the video news team of the Special Times.
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