South Korea GDP Growth Rate  1960-2018 | Data | Chart | Calendar

The South Korean economy rebounded 1.1 percent quarter-over-quarter in the three months to March 2018 after a 0.2 percent contraction in the previous quarter and slightly above market expectations of a 1.0 percent climb, advanced data showed. It was the second fastest growth rate in the last ten quarters. GDP Growth Rate in South Korea averaged 1.80 percent from 1960 until 2018, reaching an all time high of 7.80 percent in the fourth quarter of 1970 and a record low of -7 percent in the first quarter of 1998.

South Korea GDP Growth Rate
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South Korea GDP Growth Rebounds in Q1


The South Korean economy rebounded 1.1 percent quarter-over-quarter in the three months to March 2018 after a 0.2 percent contraction in the previous quarter and slightly above market expectations of a 1.0 percent climb, advanced data showed. It was the second fastest growth rate in the last ten quarters.

Advanced figures showed manufacturing rebounded 1.9 percent following a 1.7 percent decline in the previous quarter. Construction also rebounded (3.3 percent vs -1.6 percent in the preceding period). Meantime, services grew at a faster clip of 0.9 percent (vs 0.3 percent), while agriculture grew much faster (6.5 percent vs 0.2 percent). In contrast, utilities plunged 5.5 percent after a 0.4 percent expansion in the fourth quarter of last year.

By expenditure, gross fixed investment rebounded 3.0 percent in the first quarter of 2018 after a 1.2 percent contraction in the previous three months; construction rebounded 2.8 percent following a 2.3 percent drop in the preceding period and facilities also rebounded (5.2 percent vs -0.7 percent), contrasting slower growth in intellectual property products (0.2 percent vs 1.1 percent). In addition, exports (4.4 percent vs -5.3 percent) and imports (5.5 percent vs -2.9 percent) also rebounded. Meantime, final consumption spending climbed 1.0 percent (vs 0.9 percent in the previous quarter), nudged by government consumption (2.5 percent vs 0.5 percent).

Year-on-year, the economy advanced 2.8 percent year-on-year in the first quarter of 2018, matching the growth recorded for the previous quarter and slightly below market expectations of a 2.9 percent climb. 


Mario | mario@tradingeconomics.com
4/25/2018 11:29:23 PM



Calendar GMT Actual Previous Consensus TEForecast
2018-01-24 11:00 PM GDP Growth Rate QoQ Adv -0.2% 1.5% -0.2% 0.9%
2018-03-27 11:00 PM GDP Growth Rate QoQ Final -0.2% 1.5% -0.2% -0.2%
2018-04-25 11:00 PM GDP Growth Rate QoQ Adv 1.1% -0.2% 1% 0.50%
2018-05-31 11:00 PM GDP Growth Rate QoQ Final -0.2% 1.1%
2018-07-25 11:00 PM GDP Growth Rate QoQ Adv 0.8%
2018-09-03 11:00 PM GDP Growth Rate QoQ Final


South Korea GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.10 -0.20 7.80 -7.00 percent [+]
GDP Annual Growth Rate 2.80 2.80 19.60 -7.40 percent [+]
GDP 1411.25 1382.76 1411.33 2.42 USD Billion [+]
GDP Constant Prices 395932.80 391681.40 395932.80 6626.29 KRW Billion [+]
Gross National Product 422891.90 412744.60 422891.90 7259.71 KRW Billion [+]
Gross Fixed Capital Formation 128329.80 124612.20 128329.80 359.12 KRW Billion [+]
GDP per capita 25458.90 24870.80 25458.90 944.30 USD [+]
GDP per capita PPP 34985.80 34177.70 34985.80 11632.60 USD [+]
GDP From Agriculture 7531.90 7072.90 7619.80 1627.32 KRW Billion [+]
GDP From Construction 17957.40 17388.90 17957.40 279.27 KRW Billion [+]
GDP From Manufacturing 114019.80 111872.20 114019.80 297.74 KRW Billion [+]
GDP From Mining 511.60 547.40 875.80 178.51 KRW Billion [+]
GDP From Public Administration 23692.70 23456.80 23692.70 1673.48 KRW Billion [+]
GDP From Services 209158.30 207322.50 209158.30 4114.29 KRW Billion [+]
GDP From Transport 13025.00 13106.90 13106.90 113.95 KRW Billion [+]
GDP From Utilities 7326.60 7748.90 7748.90 10.30 KRW Billion [+]


South Korea GDP Growth Rate

South Korea has an export oriented economy. Following the Asian financial crisis in late 90’s, South Korea economy grew at an average 1.1 percent on a quarter over quarter basis, fueled by exports, which account for half of its GDP. South Korea is the world's leading producer of displays and memory semiconductors and the second largest shipbuilding producer. Yet, the high reliance on exports together with a limited domestic market and a rapidly aging population are the main threats to the future growth. This page provides - South Korea GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. South Korea GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on May of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
1.10 -0.20 7.80 -7.00 1960 - 2018 percent Quarterly
SA




GDP growth rate by Country
Country Last
United States 2.30 Mar/18
India 1.80 Dec/17
Turkey 1.80 Dec/17
China 1.40 Mar/18
Mexico 1.10 Mar/18
South Korea 1.10 Mar/18
Spain 0.70 Mar/18
Switzerland 0.60 Dec/17
Netherlands 0.50 Mar/18
Australia 0.40 Dec/17
Canada 0.40 Dec/17
Euro Area 0.40 Mar/18
France 0.30 Mar/18
Germany 0.30 Mar/18
Italy 0.30 Mar/18
Brazil 0.10 Dec/17
United Kingdom 0.10 Mar/18
Japan -0.20 Mar/18
Russia -0.38 Dec/17
Indonesia -0.42 Mar/18


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