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South Korea GDP Annual Growth Rate

Last Release
Jun 2021
Actual
6 %
Forecast
N/A
Previous
1.9 %
Frequency
Quarterly
Units In
%
Next Release
N/A
Time to Release
N/A
Highest
Lowest
Average
Date Range
Source
20.8 %
Dec 1969
-7.3 %
Jun 1998
7.13 %1961 - 2021The Bank of Korea
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 (6 percent ); education (5.3 percent); information and communication (5 percent); 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.

Latest Updates

South Korea’s economy advanced 6 percent year-on-year in the second quarter of 2021, following a 1.9 percent rise in the previous period and slightly higher than a preliminary estimate of 5.9 percent. It was the fastest expansion since the last quarter of 2010, partly due to the low base effect last year, but also due to a positive contribution from trade, as exports jumped 22.4 percent and imports rose 13.7 percent. At the same time, both private consumption (3.7 percent vs 1.2 percent in Q1) and government spending (5.3 percent vs 2.3 percent) increased at a faster pace. Gross fixed capital formation also expanded solidly overall (3.8 percent vs 4 percent). On a quarterly basis, Asia's fourth-largest economy advanced 0.8 percent, following a 1.7 percent gain in the previous quarter.

South Korea GDP Annual Growth Rate History

Last 12 readings

Latest Releases and Calendar Events

DATETIMETITLE
Sep 1, 202123:08South Korea GDP Revised Higher in Q2
Jul 26, 202123:14South Korea GDP Grows Most Since 2010
Dec 3, 201909:23South Korea GDP Annual Growth Steady at 2%
Oct 24, 201910:34South Korea Annual GDP Growth Remains at 2%
Sep 3, 201911:30South Korea Q2 GDP Annual Growth Rate at 2%
Sep 2, 201923:32South Korea Consumer Prices Unexpectedly Unchanged
Jul 25, 201908:17South Korea Economy Expands 2.1% YoY in Q2

South Korea gdp Indicators

All South Korea indicators
Indicator
Last
Previous
Min
Max
Unit
Frequency
Range
GDP
1,630.53
Dec 2020
1,646.74
Dec 2019
2.42
Dec 1961
1,720.58
Dec 2018
USD BillionYearly1960 - 2020
GDP Annual Growth Rate
6
Jun 2021
1.9
Mar 2021
-7.3
Jun 1998
20.8
Dec 1969
%Quarterly1961 - 2021
GDP Constant Prices
476,244.6
Jun 2021
472,602.2
Mar 2021
6,626.29
Mar 1960
476,244.6
Jun 2021
KRW BillionQuarterly1960 - 2021
GDP From Agriculture
7,579.6
Jun 2021
8,680.1
Mar 2021
1,627.32
Mar 1960
8,680.1
Mar 2021
KRW BillionQuarterly1960 - 2021
GDP From Construction
21,574.3
Jun 2021
21,866.6
Mar 2021
279.27
Dec 1960
23,837.4
Mar 2017
KRW BillionQuarterly1960 - 2021
GDP From Manufacturing
128,375.3
Jun 2021
130,075.5
Mar 2021
297.74
Jun 1960
130,075.5
Mar 2021
KRW BillionQuarterly1960 - 2021

GDP Annual Growth Rate across Asia

GDP Annual Growth Rate global view
Country
Last
Previous
Min
Max
Unit
Frequency
Range
Afghanistan
-1.93
Dec 2020
3.19
Dec 2019
-1.93
Dec 2020
17.2
Dec 2009
%Yearly2007 - 2020
Azerbaijan
35.51
Jun 2021
3.07
Mar 2021
-12.35
Dec 2020
40.4
Mar 2006
%Quarterly2001 - 2021
Bhutan
5.5
Dec 2019
3
Dec 2018
3
Dec 2018
17.9
Dec 2008
%Yearly1996 - 2019
Brunei
-1.4
Mar 2021
-1.4
Dec 2020
-8.1
Dec 2013
7.1
Dec 2019
%Quarterly2004 - 2021
Cambodia
-3.1
Dec 2020
7.1
Dec 2019
-3.1
Dec 2020
13.3
Dec 2005
%Yearly1994 - 2020
China
7.9
Jun 2021
18.3
Mar 2021
-6.8
Mar 2020
18.3
Mar 2021
%Quarterly1989 - 2021

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