South Korea’s national income grew three-point-four percent in the first quarter from the previous quarter.

The Bank of Korea announced Thursday that the quarterly gross national income(GNI) stood at 393-point-three trillion won, or around 330 billion U.S. dollars, in the January-March period.

On the back of improved trade conditions, including low old prices, the latest figure is the highest seen in the recent four quarters.

The on-quarter GNI growth reached the peak at four percent in the first quarter of last year, but dropped to zero in the second quarter. It jumped to one-point-five percent in the third quarter before going back to zero growth in the fourth.

National income is the aggregate sum of all income, including wages, interest and dividends, earned by the people of a nation during a certain period. Meanwhile, the central bank said the country’s Gross Domestic Product(GDP) grew by a half percent in the first quarter of this year compared to the previous quarter.