South Korea GDP Annual Growth Rate  1961-2018 | Data | Chart | Calendar

The South Korean economy grew 3.0 percent year-on-year in the fourth quarter of 2017, down from the 3.8 percent expansion in the previous quarter and below the 3.1 percent growth expected by consensus. Sharp slowdown in manufacturing and construction, offset faster growth in utilities; marginal improvement in services; and a rebound in primary activity. For the full 2017, gross domestic product expanded by 3.1 percent, compared to 2.8 percent for 2016. GDP Annual Growth Rate in South Korea averaged 7.46 percent from 1961 until 2017, reaching an all time high of 20.80 percent in the fourth quarter of 1969 and a record low of -7.30 percent in the second quarter of 1998.

South Korea GDP Annual Growth Rate
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South Korea Annual GDP Grows Below Expectations in Q4


The South Korean economy grew 3.0 percent year-on-year in the fourth quarter of 2017, down from the 3.8 percent expansion in the previous quarter and below the 3.1 percent growth expected by consensus.

Slower GDP growth was mainly explained by a sharp slowdown in manufacturing (2.7 percent in Q4 vs 6.6 percent in Q3) and construction (3.8 percent vs 7.0 percent). In contrast, there was a faster expanison in utilities (5.2 percent vs 1.5 percent); services (2.5 percent vs 2.4 percent); and primary activity rebounded (3.1 percent vs -0.9 percent).

For the full 2017, gross domestic product expanded by 3.1 percent, compared to 2.8 percent for 2016.

On a quarterly basis, the South Korean economy unexpectedly shrank 0.2 percent in the three months to December of 2017, compared to market expectations of 0.1 percent growth and a 1.5 percent expansion in the previous period. 


Mario | mario@tradingeconomics.com
1/25/2018 1:09:08 PM



Calendar GMT Actual Previous Consensus TEForecast
2017-10-25 11:00 PM GDP Growth Rate YoY Adv 3.6% 2.7% 3.6% 3.1%
2017-11-30 11:00 PM GDP Growth Rate YoY Final 3.8% 2.7% 3.6% 3.6%
2018-01-24 11:00 PM GDP Growth Rate YoY Adv 3% 3.8% 3.1% 3.2%
2018-03-27 11:00 PM GDP Growth Rate YoY Final 3.8% 3% 3%
2018-04-25 11:00 PM GDP Growth Rate YoY Adv 2.9%
2018-05-31 11:00 PM GDP Growth Rate YoY Prel 2.9%


South Korea GDP Last Previous Highest Lowest Unit
GDP Growth Rate -0.20 1.50 7.80 -7.00 percent [+]
GDP Annual Growth Rate 3.00 3.80 20.80 -7.30 percent [+]
GDP 1411.25 1382.76 1411.33 2.42 USD Billion [+]
GDP Constant Prices 391622.50 392067.20 392067.20 6626.29 KRW Billion [+]
Gross National Product 412381.20 399158.80 412381.20 7259.71 KRW Billion [+]
Gross Fixed Capital Formation 123733.20 126109.20 126109.20 359.12 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 7071.00 6720.50 7681.00 1627.32 KRW Billion [+]
GDP From Construction 17607.50 17847.70 17856.20 279.27 KRW Billion [+]
GDP From Manufacturing 111484.90 113516.90 113516.90 297.74 KRW Billion [+]
GDP From Mining 545.40 560.80 875.80 178.51 KRW Billion [+]
GDP From Public Administration 23377.50 23242.90 23377.50 1673.48 KRW Billion [+]
GDP From Services 207249.10 206122.90 207249.10 4114.29 KRW Billion [+]
GDP From Transport 13175.90 13091.60 13175.90 113.95 KRW Billion [+]
GDP From Utilities 7770.40 7833.50 7833.50 10.30 KRW Billion [+]


South Korea GDP Annual Growth Rate

South Korea’s economy became one of the most diversified and technologically advanced in the world in the last 50 years. Like in most developed countries, services account for the highest percentage of GDP (around 57 percent of GDP). Within services the most important ones are public administration (around 5.8 percent of GDP); education (5.3 percent of GDP); information and communication (5 percent of GDP); and business activities (4.6 percent of GDP). A strong manufacturing industry which has turned South Korea into a major exporter accounts for 32 percent of GDP. This page provides - South Korea GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. South Korea GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on February of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
3.00 3.80 20.80 -7.30 1961 - 2017 percent Quarterly




GDP annual growth rate by Country
Country Last
Turkey 11.10 Sep/17
China 6.80 Dec/17
India 6.30 Sep/17
Indonesia 5.19 Dec/17
Spain 3.10 Dec/17
Canada 3.00 Sep/17
South Korea 3.00 Dec/17
Germany 2.90 Dec/17
Netherlands 2.90 Dec/17
Australia 2.80 Sep/17
Euro Area 2.70 Dec/17
United States 2.50 Dec/17
France 2.40 Dec/17
Mexico 1.80 Dec/17
Russia 1.80 Sep/17
Italy 1.60 Dec/17
Japan 1.50 Dec/17
Brazil 1.40 Sep/17
United Kingdom 1.40 Dec/17
Switzerland 1.20 Sep/17


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