The Gross Domestic Product (GDP) in South Korea expanded 1.30 percent in the third quarter of 2025 over the previous quarter. This dataset provides - South Korea GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The statistic shows the growth of the real gross domestic product (GDP) in South Korea from 1954 to 2024, with projections up until 2030. GDP is the total value of all goods and services produced in a country in a year. It is considered to be a very important indicator of the economic strength of a country and a change in it is a sign of economic growth. In 2024, the real GDP in South Korea grew by about 2.0 percent compared to the previous year.

The Gross Domestic Product (GDP) in South Korea was worth 1712.79 billion US dollars in 2023, according to official data from the World Bank. The GDP value of South Korea represents 1.62 percent of the world economy. This dataset provides - South Korea GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In the fourth quarter of 2024, South Korea's real gross domestic product (GDP) increased by *** percent year-on-year. South Korea's economy recorded negative growth following the outbreak of the COVID-19 pandemic but recovered quickly thereafter.

The Gross Domestic Product (GDP) in South Korea expanded 1.70 percent in the third quarter of 2025 over the same quarter of the previous year. This dataset provides - South Korea GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The latest data from show economic growth of 1.71 percent, which is an increase from the rate of growth of 0.62 percent in the previous quarter and
an increase compared to the growth rate of 1.53 percent in the same quarter last year. The economic growth time series for South Korea cover the...

This data package includes the underlying data to replicate the charts and calculations presented in Migration or stagnation: Aging and economic growth in Korea today, the world tomorrow, PIIE Working Paper 24-18.

If you use the data, please cite as:

Clemens, Michael. 2024. Migration or stagnation: Aging and economic growth in Korea today, the world tomorrow. PIIE Working Paper 24-18. Washington: Peterson Institute for International Economics.

Key information about South Korea Real GDP Growth

• The Gross Domestic Product (GDP) in South Korea expanded 1.7 % YoY in Sep 2025, following a growth of 0.6 % in the previous quarter.
• Real GDP Growth YoY data in South Korea is updated quarterly, available from Mar 1961 to Sep 2025, with an average rate of 6.4 %.
• The data reached an all-time high of 19.8 % in Dec 1969 and a record low of -7.1 % in Jun 1998.

• In the latest reports, Nominal GDP of South Korea reached 471.9 USD bn in Jun 2025.
• Its GDP deflator (implicit price deflator) increased 2.8 % in Jun 2025.
• GDP Per Capita in South Korea reached 36,222.6 USD in Dec 2024.
• Its Gross Savings Rate was measured at 35.2 % in Jun 2025.
• For Nominal GDP contributions, Investment accounted for 29.4 % in Jun 2025.
• Public Consumption accounted for 18.1 % in Jun 2025.
• Private Consumption accounted for 47.2 % in Jun 2025.

Full Year GDP Growth in South Korea increased to 2 percent in 2024 from 1.36 percent in 2023. This dataset includes a chart with historical data for South Korea Full Year Gdp Growth.

South Korea Potential(GDP) Gross Domestic ProductGrowth: Volume data was reported at 1.978 % in 2026. This records a decrease from the previous number of 2.025 % for 2025. South Korea Potential(GDP) Gross Domestic ProductGrowth: Volume data is updated yearly, averaging 4.421 % from Dec 1986 (Median) to 2026, with 41 observations. The data reached an all-time high of 9.644 % in 1990 and a record low of 1.978 % in 2026. South Korea Potential(GDP) Gross Domestic ProductGrowth: Volume data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s South Korea – Table KR.OECD.EO: GDP: Potential Output and Output Gap: Forecast: OECD Member: Annual. GDPVTR_ANNPCT - Potential output, volume, growth. Percentage change compared to the previous period. Quarterly growth expressed at annual rate.

Economic growth, quarterly in South Korea, September, 2025 The most recent value is 1.17 percent as of Q3 2025, an increase compared to the previous value of 0.67 percent. Historically, the average for South Korea from Q2 1960 to Q3 2025 is 1.69 percent. The minimum of -6.71 percent was recorded in Q1 1998, while the maximum of 8.37 percent was reached in Q3 1969. | TheGlobalEconomy.com

Historical dataset showing South Korea economic growth by year from 1960 to 2018.

In 2023, services contributed around 58.42 percent to South Korea's gross domestic product (GDP), while 31.59 percent came from South Korea’s industry sector, and a little less than two percent of South Korea’s GDP was generated by the country’s agriculture sector. South Korea’s services sector employed over 70 percent of the South Koreans workforce in 2018 . South Korea’s workforce Much of the over 51 million inhabitants of South Korea are employed, and the unemployment rate is expected to remain under four percent through 2024. South Korea is experiencing the effects of an aging labor force, with a decrease in population share of people entering the work force, and a simultaneous increase of the number of those aged 65 years and above. Despite that, the country’s economy has remained a powerhouse, growing at around 2.5 percent from 2018 to 2019. The South Korean economy South Korea is known as an economic success story; it rose from one of the poorest countries before the 1960’s to a developed country with a high income level. Overall, South Korea’s total GDP was estimated to be approximately 1.7 trillion U.S. dollars in 2019, and is expected to continue to increase through 2024. South Korea is considered to be one of the core economies driving the next generation of economic growth, alongside the BRIC countries (Brazil, Russia, India, and China).

As of May 2024, real gross domestic product (GDP) growth in South Korea was forecasted at *** percent for 2024 and *** percent for 2025. The coronavirus (COVID-19) adversely affected the South Korean economy, which, however, quickly recovered as early as 2021.

Key information about South Korea Nominal GDP Growth

• South Korea Nominal GDP Growth was reported at 3.424 % in Jun 2025.
• This records an increase from the previous number of 2.159 % for Mar 2025.
• South Korea Nominal GDP Growth data is updated quarterly, averaging 12.013 % from Mar 1961 to Jun 2025, with 258 observations.
• The data reached an all-time high of 49.049 % in Sep 1963 and a record low of -4.749 % in Dec 1998.
• South Korea Nominal GDP Growth data remains active status in CEIC and is reported by CEIC Data.
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Nominal GDP: Y-o-Y Growth: Quarterly: Seasonally Adjusted.

Graph and download economic data for Gross Domestic Product for Republic of Korea (MKTGDPKRA646NWDB) from 1960 to 2023 about Korea and GDP.

The Gross Domestic Product per capita in South Korea was last recorded at 34121.02 US dollars in 2023. The GDP per Capita in South Korea is equivalent to 270 percent of the world's average. This dataset provides - South Korea GDP per capita - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Historical dataset showing North Korea economic growth by year from N/A to N/A.

In 2023, the service sector accounted for about ** percent of South Korea's gross domestic product (GDP), while manufacturing contributed about **** percent. After the Korean War (1950-1953), South Korea achieved impressive economic growth based largely on the contribution of the manufacturing sector.

South Korea: GDP per capita, Purchasing Power Parity: The latest value from 2023 is 50414 U.S. dollars, an increase from 49778 U.S. dollars in 2022. In comparison, the world average is 26561 U.S. dollars, based on data from 187 countries. Historically, the average for South Korea from 1990 to 2023 is 32678 U.S. dollars. The minimum value, 13840 U.S. dollars, was reached in 1990 while the maximum of 50414 U.S. dollars was recorded in 2023.