SEOUL - South Korea's revised real gross domestic product (GDP), adjusted for inflation, was up 2.0 percent in 2024 compared to the previous year, central bank data showed Wednesday.

It was unchanged from the preliminary figure unveiled in January, according to the Bank of Korea (BOK).

The real GDP kept an upward trend for the fourth successive year after sliding in 2020 amid the COVID-19 pandemic.

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Export, which accounts for about half of the export-driven economy, gained 7.0 percent last year on strong demand for semiconductors, while import grew 2.5 percent on higher demand for energy, machinery and equipment.

Private consumption added 1.1 percent in 2024, lower than an increase of 1.8 percent in the previous year.

Facility investment expanded 1.6 percent, but construction investment dipped 3.0 percent amid the faltering housing market.

The real gross national income (GNI), which measures the combined income earned at home and abroad by people and businesses, climbed 3.5 percent in 2024 after rising 2.2 percent in the previous year.

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The GDP deflator, or the ratio of nominal GDP to real GDP to gauge the change of prices for all goods and services produced in the country, picked up 4.1 percent last year.